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Oil extends gains on hopes for non-OPEC output cuts

Oil prices extended gains, buoyed by growing hopes that non-OPEC producers might agree to cut output following a cartel agreement to limit production.

Source: Reuters

Oil extends gains on hopes for non-OPEC output cuts

TOKYO, Dec 9- Oil prices extended gains on Friday, buoyed by growing optimism that non- OPEC producers might agree to cut output following a cartel agreement to limit production. Oil producers will meet in Vienna on Saturday to see if non- OPEC countries will cut production to reduce a global supply glut that has pressured prices for more than two years.

Source: Reuters

UPDATE 11-Oil above $50 on hopes for non-OPEC output cuts

NEW YORK, Dec 8- Oil rebounded from the week's lows to close above $50 a barrel on Thursday, on growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production. Both Brent and U.S. benchmarks rallied after the former secretary general of the Organization of the Petroleum Exporting Countries made comments...

Source: Reuters

GRAINS-Soybeans fall 2 percent on profit-taking before USDA data

CHICAGO, Dec 8- U.S. soybean futures dropped 2 percent on Thursday, the steepest decline in 2-1/ 2 months, on profit-taking tied to lower vegoil prices and extended weather outlooks for rainfall in Argentina, traders and analysts said. President-elect Donald Trump's nomination of Oklahoma Attorney General Scott Pruitt to run the nation's Environmental...

Source: Reuters

Astronaut and US Senator John Glenn has died at 95

In a 2009 New York Times op-ed, author Tom Wolfe called Glen the "last true national hero America has ever had."

Source: CNBC.com

UPDATE 10-Oil above $50 on hopes for non-OPEC output cuts

NEW YORK, Dec 8- Oil rebounded from the week's lows to close above $50 a barrel on Thursday, on growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production. Both Brent and U.S. benchmarks rallied after comments by the former secretary general of the Organization of the Petroleum Exporting Countries...

Source: Reuters

UPDATE 9-Oil above $50 on hopes for non-OPEC output cuts

NEW YORK, Dec 8- Oil rebounded from the week's lows and hovered above $50 a barrel on Thursday as market watchers focused on an upcoming weekend meeting between OPEC and non-OPEC producers that may result in an agreement to cut crude output further. Brent was up 65 cents, or 1.3 percent, to $53.65 a barrel by 1:32 p.m. EDT. Oil producers will meet in Vienna on Saturday...

Source: Reuters

TWELVE REPUBLICAN, 15 DEMOCRATIC U.S. SENATORS WRITE TO TRUMP URGING TOUGH LINE ON RUSSIA OVER UKRAINE

SENATORS WRITE TO TRUMP URGING TOUGH LINE ON RUSSIA OVER UKRAINE.

Source: Reuters

Former OPEC official El-Badri says non-OPEC cut a 'must' -conference

Dec 8- Abdalla Salem El-Badri, who stepped aside as OPEC Secretary General in August, said Thursday at a conference a crude oil production cut of about 600,000 barrels per day from non- OPEC members is a "must". The Organization of the Petroleum Exporting Countries agreed last month to cut production by 1.2 million bpd, but has been working to convince non- OPEC...

Source: Reuters

UPDATE 2-Italian bank Intesa to help fund Rosneft deal for Glencore and Qatar - sources

The bank, Italy's biggest retail lender, has deep ties in Russia and advised state-owned Rosneft on the sale of the 19.5 percent stake. Wednesday's announcement showed the Kremlin can lure big foreign investors to its oil sector despite political risks associated with Russia, which is locked in a stand-off with the West over conflicts in Ukraine and Syria.

Source: Reuters