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Saudi Arabia on Saturday named a prominent businessman as labor minister at the urging of its private sector.

Private sector businessman Ahmed bin Suleiman al-Rajhi was named minister of labor and social development, according to state media.

The business community wants to see the kingdom diversify its economy away from oil exclusivity and create jobs for an overwhelmingly young population.


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Japanese stocks slid as the yen rose after a strong earthquake struck Osaka and woes lingered over a trade spat between the U.S. and China.

Electronics makers and machinery companies weighed most heavily on the benchmark Topix gauge. Several companies including Kubota Corp. reported a temporary operations halt at their Osaka facilities after the temblor with a 6.1 magnitude hit the city at....More>>>

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&l;span style=&q;font-weight: 400;&q;&g;I&s;ve written past columns for &l;em&g;Forbes&l;/em&g; delineating the winners from $50/barrel oil, $60/barrel oil and so on. &a;nbsp;As oil hits &a;mdash; and holds &a;mdash;$70/barrel today, the list of winners is easier to identify: all energy stocks. It&s;s really that simple. &a;nbsp;That said, I don&a;rsquo;t want to sound like one of those faux-fund....More>>>

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It’s not often that an OPEC producer accuses the U.S. of driving up oil prices.

But that’s exactly what Iran Oil Minister Bijan Namdar Zanganeh said on state television Thursday. Two days after Donald J. Trump decided to withdraw from the Iran nuclear agreement, Zanganeh said the U.S. president is engaging in “shenanigans” in the oil market — and that he’s....More>>>

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What happened

Shares of oil shipper Teekay Tankers (NYSE:TNK) got the thumbs-up from analysts at Wells Fargo this morning, sparking a rally that sent Teekay stock up 9.9% by close of trading — and had the shares up nearly 12% earlier in the day.

So what

Calling Teekay “uniquely positioned” to benefit from an expected increase in oil production by OPEC countries....More>>>

Top 10 Oil Stocks To Own For 2019

The International Energy Agency (IEA) released its most recent report on oil inventory around the world. It found that levels are at a three-year low. This will compound the reason oil prices may continue to climb. Brent crude trades for just below $80 a barrel.

The IEA reported:

For some time, the focus has been on OECD stocks, and new data show a further decline in March of 27 mb....More>>>

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Ahead of Friday’s meeting of Organization of Petroleum Exporting Countries (OPEC) and non-OPEC oil ministers who joined forces more than a year ago to reduce the oversupply of crude oil, the group’s technical committee discussed lowering its target of bringing global stockpiles down to their five-year average to adopting a new target of reducing stockpiles to a seven-year average.


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The Dow Jones today futures fell 187 points this morning after President Donald Trump suggested that any discussion of a thaw in Chinese trade relations were premature. Trump said that he is “not satisfied” with the current state of trade discussions, even though other members of his administration, including Treasury Secretary Steven Mnuchin, appeared optimistic about a deal.


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The stock market had a mildly positive day on Friday, and gains of between 0.1% and 0.3% were common for most of the major benchmark indexes. Without any outright hostility among leaders of the G-7 nations in their summit in Canada’s Quebec City, investors seemed content to go into the weekend with confidence in the prospects for the U.S. economy and its biggest businesses. Yet some individual....More>>>

Best Oil Stocks To Own Right Now

It is the election haze when poll uncertainties build up, electioneering noise rises and it is easy for investors to get cautious, but anecdotal evidence suggests that markets have usually done well in the run-up to elections, Edelweiss Securities said in a report.

Over the past two decades, India has usually done well in the 12 months leading to an election on an absolute basis (three....More>>>