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UPDATE 4-Oil flat as weaker dollar offsets rising U.S. stocks

*OPEC members say price drop will be short-term. Crude oil stocks in the United States rose by 2.5 million barrels last week to above the five-year seasonal average, according to data from the Energy Information Administration, trumping expectations for a drop of 2.3 millions. September crude futures were 3 cents lower at $49.16 by 1020 GMT, having fallen by...
Source: Reuters | By: Amanda Cooper
UPDATE 3-Oil steady; US crude below $50 as stocks rise

*OPEC members say price drop short term. Crude oil stocks in the United States rose 2.5 million barrels last week to above the five-year seasonal average, according to data from the Energy Information Administration, trumping expectations for a 2.3 million-barrel drop. September crude futures were 18 cents higher by 0827 GMT on Thursday at $49.37, after having...
Source: Reuters | By: Amanda Cooper
UPDATE 6-Oil falls on weak U.S. shares, expected rise in crude stocks

*OPEC members say expect price fall to be short-lived. U.S. crude dipped below $50 a barrel, trading as low as $49.75, the lowest since April 6 and down $1.11 on the day. "The U.S. crude oil stocks build reported by the API last night is weighing on prices," said Tamas Varga, analyst at London brokerage PVM Oil Associates.
Source: Reuters | By: Karolin Schaps
UPDATE 4-Oil prices fall on unexpected rise in U.S. crude stocks

Industry data released on Tuesday by the American Petroleum Institute showed crude inventories at the Cushing, Oklahoma hub rose 2.3 million barrels last week, compared with analyst expectations for a decrease of the same volume. "The U.S. crude oil stocks build reported by the API last night is weighing on prices," said Tamas Varga, analyst at London brokerage...
Source: Reuters | By: Karolin Schaps
UPDATE 4-Oil steadies as dollar eases, but oversupply in focus

Kerry says speech by Iran leader "very disturbing". *Impact on Brent from Iran crude may be milder- Barclays. "They suggest implementing the Iran nuclear deal may not be as straightforward as it originally seemed, and maybe therefore Iranian oil exports could reach the market more slowly than expected.
Source: Reuters | By: Amanda Cooper
UPDATE 3-Oil stable as dollar dips, but oversupply persists

Kerry says speech by Iran leader "very disturbing". A nuclear deal between Iran and the West that is likely to unleash more oil on a market where slowing Chinese growth and a faltering European recovery have eaten into demand and stripped almost 11 percent off the price of crude oil so far in July. They suggest implementing the Iran nuclear deal may not be as...
Source: Reuters | By: Amanda Cooper
REFILE-UPDATE 9-Oil prices dip below $50 on ample supply, strong dollar

*U.S. crude futures drop below $50 intraday. NEW YORK, July 20- Oil futures fell on Monday and U.S. crude slipped below $50 a barrel intraday as ample supply, the prospect of more Iranian crude for export and a strengthening dollar combined to pressure prices. August crude, set to expire on Tuesday, fell 74 cents to settle at $50.15, having fallen to $49.85, its first time...
Source: Reuters | By: Robert Gibbons
UPDATE 9-Oil prices dips below $50 on ample supply, strong dollar

*U.S. crude futures drop below $50 intraday. NEW YORK, July 20- Oil futures fell on Monday and U.S. crude slipped below $50 a barrel intraday as ample supply, the prospect of more Iranian crude for export and a strengthening dollar combined to pressure prices. August crude, set to expire on Tuesday, fell 74 cents to settle at $50.15, having fallen to $49.85, its first time...
Source: Reuters | By: Robert Gibbons
UPDATE 8-Oil prices drop on ample supply, strong dollar

NEW YORK, July 20- Oil futures fell and U.S. crude briefly slipped below $50 a barrel in choppy trading on Monday as ample supply, the prospect of more crude entering the market and the stronger dollar combined to pressure prices. Brent September crude was down 53 cents at $56.57 a barrel at 2:02 p.m. EDT, having swung from $56.45 to $57.44. August crude was down 74...
Source: Reuters | By: Robert Gibbons
UPDATE 7-Oil eases, choppy after early dollar strength pressures

NEW YORK, July 20- Brent and U.S. crude slipped in choppy trading along with the seesawing dollar after the currency's early strength pressured dollar-denominated commodities. Brent September crude was down 30 cents at $56.80 a barrel at 11:29 a.m. EDT, having swung from $56.45 to $57.44. August crude was down 47 cents at $50.42.
Source: Reuters | By: Robert Gibbons