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FTSE 100 falls as high yields weigh, but marks best week in 2 months
Published at 05/03/2021 at 17:13 -
European stocks pressured by yields, but mark weekly gains on firm cyclicals
Published at 05/03/2021 at 17:12 -
Powell disappointment hits European stocks, tech slides again
Published at 05/03/2021 at 08:28 -
UK shares fall as higher bond yields weigh
Published at 05/03/2021 at 08:13 -
UK Stocks-Factors to watch on March 5
Published at 05/03/2021 at 07:34 -
UK Stocks-Factors to watch on March 5
Published at 05/03/2021 at 05:58 -
FTSE 100 snaps 3-day winning streak as high yields weigh
Published at 04/03/2021 at 17:10 -
European shares end lower as miners and tech are pressured by firmer yields
Published at 04/03/2021 at 17:04 -
Rising U.S. yields knock European stocks, miners slump
Published at 04/03/2021 at 08:30 -
FTSE 100 falls as high yields, inflation worries return to fore
Published at 04/03/2021 at 08:28
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FOREX-Dollar jumps as U.S. jobs growth beats expectations
Published at 05/03/2021 at 19:57 -
FOREX-Dollar jumps as U.S. jobs growth beats expectations
Published at 05/03/2021 at 15:02 -
FOREX-Dollar gains across the board as Powell sticks to script
Published at 05/03/2021 at 12:08 -
FOREX-Dollar gains across the board as Powell sticks to script
Published at 05/03/2021 at 09:47 -
FOREX-Dollar ascendant as Powell sticks to script; risk currencies slide
Published at 05/03/2021 at 04:50 -
FOREX-Dollar ascendant as Powell stays dovish course; risk currencies slide
Published at 05/03/2021 at 01:24 -
FOREX-Dollar hits three-month highs as Fed's Powell sticks to script
Published at 04/03/2021 at 20:26 -
FOREX-Dollar pares gains before Fed's Powell speaks
Published at 04/03/2021 at 15:11 -
FOREX-Dollar holds before Powell speaks, Swiss franc falls to five-month low
Published at 04/03/2021 at 12:33 -
FOREX-Dollar holds gains ahead of Powell, Swiss franc falls to 5-month low
Published at 04/03/2021 at 08:53
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Oil surges after OPEC+ hold cuts, strong U.S. jobs growth
Published at 05/03/2021 at 19:33 -
PRECIOUS-Gold holds near 9-month low as yields, dollar gain further
Published at 05/03/2021 at 18:58 -
PRECIOUS-Gold slides to 9-month low as high yields, dollar dull appeal
Published at 05/03/2021 at 12:47 -
PRECIOUS-Gold slides to 9-month low as Powell's remarks make yields rally
Published at 05/03/2021 at 07:28 -
Oil extends gains on OPEC+ supply restraint
Published at 05/03/2021 at 01:46 -
PRECIOUS-Gold sinks to 9-month low as Fed remarks boost dollar, bond yields
Published at 05/03/2021 at 01:26 -
Oil scales 1-year peak as OPEC+ rolls over output for April
Published at 04/03/2021 at 20:15 -
PRECIOUS-Gold crumbles under rising yields, dollar; hits 9-month low
Published at 04/03/2021 at 19:46 -
PRECIOUS-Gold rises as easing bond yields offset firm dollar
Published at 04/03/2021 at 12:42 -
PRECIOUS-Gold prices off 9-month low, but pressured by rising bond yields
Published at 04/03/2021 at 07:48
UPDATE 6-Oil steadies after unexpected build in U.S. crude stockpiles
* U.S. crude stocks rise 2.6 million barrels last week - API
* U.S. govt oil inventory data delayed to Friday at 11 am/1600 GMT OPEC+ compliance with oil cuts at 99% in December, sources say
* China's surging COVID-19 cases cast doubts on demand outlook
(New throughout, updates prices, market activity and comments to settlement)
By Stephanie Kelly
NEW YORK, Jan 21 (Reuters) - Oil prices steadied on Thursday after industry data showed a surprise increase in U.S. crude inventories that revived pandemic-related fuel demand concerns, while U.S. stimulus hopes buoyed prices.
Brent crude futures rose 2 cents to settle at $56.10 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 18 cents to settle at $53.13 a barrel.
Both benchmarks rose over the past two days on expectations of massive COVID-19 relief spending under new U.S. President Joe Biden.
Late Wednesday, industry data showed U.S. crude oil inventories rose 2.6 million barrels last week, compared with analysts' forecasts in a Reuters poll for a 1.2 million-barrel draw.
Official inventory data has been delayed by two days to Friday due to the Martin Luther King Jr. holiday and Inauguration Day.
"We are on pause until we get the inventory report," said Phil Flynn, senior analyst at Price Futures Group in Chicago. "The market is waiting to see what we're going to see in inventories tomorrow and stimulus down the road."
Elsewhere, compliance with a deal to cut output from the Organization of the Petroleum Exporting Countries and its allies fell in December from November. Compliance reached 99% last month, two sources told Reuters.
Meanwhile, rising coronavirus cases in China, the world's largest crude oil importer, weighed on prices.
Beijing plans to impose strict virus testing requirements during the Lunar New Year holiday season, when tens of millions of people are expected to travel, as it battles the worst wave of new infections since March 2020.
The commercial hub of Shanghai reported its first locally transmitted cases in two months on Thursday.
Longer term, the Biden administration could be bearish for oil.
Among his first actions as president, Joe Biden announced America's return to the Paris climate accord to combat climate change and revoked a permit for the Keystone XL oil pipeline project from Canada.
The administration is also committed to ending new oil and gas leasing on federal lands.
The markets will also follow expected U.S. efforts to strengthen nuclear constraints on oil producer Iran through diplomacy. It will raise the issue in early talks with foreign counterparts and allies, the White House said.
(Reporting by Stephanie Kelly in New York; additional reporting by Ahmad Ghaddar in London, Sonali Paul in Melbourne and Koustav Samanta in Singapore; Editing by Marguerita Choy, Barbara Lewis and David Gregorio)
((Stephanie.Kelly@thomsonreuters.com; 646-223-4471; Reuters Messaging: stephanie.kelly.thomsonreuters.com@reuters.net))