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On Thursday, West Texas Intermediate crude oil futures fell 4.9% to settle at $72.90 per barrel. Brent ( BZ=F ) crude oil, the international benchmark price, fell by 4.63% to close at $77.42 per ...
U.S. crude oil and distillate inventories were expected to have fallen last week, while gasoline stocks likely rose, a preliminary Reuters poll showed ahead of a report from the American Petroleum ...
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A lower oil rig count and the Russian cap also contributed, though U.S. crude inventories were the highest since June 2021. [2] For the week ending February 3, oil fell nearly 8 percent, with Brent at one point reaching $79.72, lowest since January 11, and WTI reaching $73.13, lowest since January 5.
Despite some temporary hiccups, oil prices are supported by improving fundamentals. This has helped the likes of DVN, MRO, FANG, OXY, COP and EOG notch up healthy year-to-date gains.
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Weekly figures from EIA show that domestic crude output has dropped to 10.7 million barrels per day, since reaching 13.1 million in the second week of March.
Oil reversed earlier declines Wednesday after new data showed US inventories fell last week, but futures are still down roughly 8% from their April peak. ... An aerial view of a crude oil storage ...