Energy Industry News
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Crude oil futures fell in New York, paring the biggest weekly gain since February, as a drop in Japan’s industrial output prompted traders to lock in profits from yesterday’s rally.
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Exxon Mobil Corp. Chief Executive Officer Rex Tillerson may struggle to reach his full-year production target after rallying oil prices reduced the company’s take from wells in Africa and output slumped in the U.S. and Europe.
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Tropical Storm Rina was nearing Cancun, Mexico, on a path that will take it across the northeastern portion of Mexico’s Yucatan Peninsula tonight, bringing heavy rain to tourist areas along the coast.
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Oil fell in New York, paring its biggest weekly gain since March, as a drop in Japanese industrial output prompted traders to lock in profits from yesterday’s price surge.
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