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Oil Pares Gains With Stimulus Doubts Threatening Demand Rebound

  • Trump tells team to stop stimulus talks until after election
  • Hurricane Delta forces operators to shut 29% of Gulf output
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Oil Range From $39 to $45 for Next Month: Daman Investments
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Oil pulled back from a two-week high in New York after President Donald Trump said he’s halting stimulus talks until after the election, sapping optimism for a much-needed boost in demand.

U.S. crude and gasoline futures both rose more than 3% Tuesday before giving back some of those gains after the market closed. Trump told his negotiators to stop talks with Democratic leaders on a fiscal stimulus package until after the election, which also caused stocks to tumble and bonds to soar.