Oil prices slip on signs of higher U.S. supplies

May 2 (UPI) — Oil prices moved lower early Wednesday as investors held their breath over possible supply-side strains, while the IMF warned of pressures in the Middle East. Crude oil markets lacked definitive direction early Wednesday. That trend followed a report from the American Petroleum Institute showing U.S. inventories of crude oil grew by 3.4 million barrels and spare ...

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Pentagon shells out $1.4B for services on F-35 air systems

April 30 (UPI) — The U.S. Navy is shelling out over a billion dollars in a new contract deal with Lockheed Martin for services on already-delivered F-35 air systems. The deal, announced Monday by the Department of Defense, is valued at more than $1.421 billion under the terms of a cost-plus-incentive-fee contract and taps Lockheed Martin for “recurring logistics services ...

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Easing tensions, higher sector activity send oil prices lower

April 30 (UPI) — Easing in geopolitical risk, increased U.S. exploration activity and weaker gasoline demand in China all contributed to a drop in crude oil prices early Monday. A thaw on the Korean peninsula continues to ease investor nerves rattled by bellicose rhetoric between U.S. President Donald Trump and North Korean leader Kim Jong Un. With Kim crossing the ...

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The euro area’s economy loses momentum

ECONOMISTS have spent the past decade wringing their hands over the health of the euro area’s economy. Last year, in a welcome respite, it expanded by a robust 2.3%, outstripping forecasts and matching America’s growth rate. But it has appeared less rosy-cheeked since. Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor’s Picks. Symptoms include ...

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