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The drone attacks on major oil installations in Saudi Arabia early this week caused panic in the global oil markets. But the price surge that followed didn’t last long.
The US dollar traded sideways for the week albeit closing marginally higher by 0.02% to 98.272.
CARACAS/WASHINGTON (Reuters) - Venezuela's rival political factions will take their power struggle to New York next week, where representatives of President Nicolas Maduro and opposition chief Juan Guaido will each try to convince a gathering of world leaders at the United Nations that their boss is the country's legitimate head of state.
NEW YORK: Oil prices retreated about 2% on Wednesday, extending the previous day's declines after Saudi Arabia said it would quickly restore full production following last weekend's attacks on its facilities and as U.S. crude stockpiles rose unexpectedly.
MARACAIBO, Venezuela (Reuters) - While playing for Venezuela in baseball's Little League World Series in the United States last month, 12-year-old Adrian Salcedo ate tacos and Chick-fil-A, donned a virtual reality headset to envision himself hitting home runs in big league ballparks and marvelled at the lush grass of the fields.
LONDON (Reuters) - The head of Russia's Direct Investment Fund on Wednesday praised Saudi Aramco's quick recovery of oil production after attacks on its facilities, and said Russian companies had offered to help fix the damage.
DUBAI (Reuters) - Iran's oil minister said on Wednesday attacks on Saudi oil installations at the weekend will have a "short-term" impact, but they will affect crude prices, the semi-official news agency ISNA reported.
DUBAI: Saudi Aramco could take months to restore output at its giant Abqaib plant, keeping up pressure on oil prices as the geopolitical consequences of the worst single attack on global supplies continued to reverberate.
LONDON (Reuters) - The strike on the heartland of Saudi Arabia's oil industry, including damage to the world's biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months.
DUBAI/LONDON (Reuters) - OPEC is assessing the impact on the oil market from attacks on Saudi Arabian facilities and says it is too early for members to take any action on raising output or holding a meeting, the UAE energy minister and other sources said.