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Oil climbs above $65 after an escalation in Libya’s civil war forces the shutdown of 2 major oilfields

Supporters of military commander Khalifa Haftar closed a pipeline connecting two major oilfields in Libya, sending Brent crude to the highest since January 9.
Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang

Oil is on pace for its best year since 2016 as global tensions and dwindling US inventories lift prices

American crude inventories fell to their lowest level in two months in the week ended December 20, propping up prices by cutting supply.

Goldman Sachs sees gold soaring 9% in 2020 as Trump’s trade war and recession fears grip investors

The investment bank pointed to a host of reasons, even Modern Monetary Theory, as factors in its forecast.

The world’s largest commodities trader is being investigated for bribery

The commodities trader is already facing an investigation from the US Department of Justice regarding potential money laundering.
In "Trading Places," the characters make money trading orange juice futures.

Orange juice futures are surging as Hurricane Dorian threatens to devastate Florida’s groves

Prices climbed about 9% to hit a three-month high this week as traders feared the storm would squeeze supply.

Iran is squirrelling millions of barrels of crude oil in Chinese ports to avoid breaching US sanctions

Iran is safely storing its crude and freeing up its tankers, while China can tap the stockpile if supply is disrupted or sanctions end.

Oil is surging as traders brace for the UK’s response to Iran’s seizure of a British-flagged oil tanker

"Investors need to carefully watch the developments in Strait of Hormuz," one analyst wrote, as a fifth of global oil supply passes through it.

Asian shares plunged on China trade-war fears, and market optimism is ‘hanging by a thread’

A fresh threat of US tariffs against Europe and disappointing manufacturing data tempered the market mood following the US-China trade war truce last weekend.
Saudi Arabia's Oil Minister Khalid Al-Falih.

OPEC is stepping in as oil prices send an ominous signal about the global economy

Oil prices were lower following the move by OPEC, a signal that growth concerns have overwhelmed expectations for lower supply.