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Commodity Market: US Crude Oil retreats as OPEC+ agrees to continue supply return

September 2, 2021 8:54 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday after OPEC+ agreed to continue the gradual return of supply to the market amid surging COVID-19 cases globally and with many US oil refiners still offline. Yesterday the Organization of the Petroleum Exporting Countries and allies, OPEC+, agreed to continue phasing out record output […] Read more

Commodity Market: US Crude Oil falls a sixth day on virus-related fuel demand concerns, surprise US gasoline inventory build

August 19, 2021 8:45 am
Futures on US West Texas Intermediate Crude Oil dropped for a sixth consecutive trading day on Thursday, while marking their longest streak of losses since late-February 2020, as the relentless spread of the Delta variant of the novel coronavirus worldwide bolstered concerns over fuel demand. Additionally, an unexpected increase in US gasoline stocks last week […] Read more