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1. • • Oil prices have surged after several of the world's largest exporters announced surprise cuts in production. The price of Brent crude oil is trading close to $85 a barrel after jumping by almost 6%. Economists warned that higher oil prices could make it harder to bring down the cost of living.
     www.bbc.com/news/business-65157555.amp

     Oil prices surge after surprise move to cut output - BBC News

2. People also ask

   Why did oil prices settle 1% lower on Wednesday?

   • HOUSTON, Aug 14 (Reuters) - Oil prices settled 1% lower on Wednesday after U.S. crude inventories rose unexpectedly and as worries eased slightly that a wider Middle East conflict could threaten supplies from one of the world's major regions for crude production. Brent crude futures closed 93 cents lower, or 1.15%, at $79.76 a barrel.

   Oil prices settle 1% lower after surprise rise in US crude stockpiles

   www.reuters.com/business/energy/oil-strengthens-fall-estimated-us-crude-inventories-2024-08-14/

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   Why did oil prices edge lower on Wednesday?

   • NEW YORK, Sept 13 (Reuters) - Oil prices edged lower on Wednesday, after earlier hitting a 10-month high, as a surprise build in U.S. crude inventories offset expectations of tight crude supply for the rest of the year. International benchmark Brent futures dipped 18 cents to settle at $91.88 a barrel.

   Oil dips as surprise US crude stockbuild faces supply cuts

   www.reuters.com/markets/commodities/oil-prices-hover-near-10-month-high-supply-concerns-2023-09-13/

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   Why did oil prices fall a dollar a barrel?

   • REUTERS/Benoit Tessier/File Photo Purchase Licensing Rights NEW YORK, Jan 10 (Reuters) - Oil prices fell nearly a dollar a barrel on Wednesday after a surprise jump in U.S. crude stockpiles raised worries about demand in the largest oil market. U.S. West Texas Intermediate crude futures fell 87 cents, or 1.2%, to $71.37 a barrel.

   Oil prices fall 1% after surprise US storage build | Reuters

   www.reuters.com/business/energy/oil-prices-extend-gains-after-us-crude-stocks-draw-2024-01-10/

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   What happened to Brent crude oil?

   • Global benchmark Brent crude oil futures settled 79 cents, or 1%, to $76.80 a barrel. Prices had gained more than 1% early in the session but reversed course after the U.S. Energy Information Administration reported a surprise build in crude oil stockpiles and larger-than-expected jumps in storage of gasoline and distillates.

   Oil prices fall 1% after surprise US storage build | Reuters

   www.reuters.com/business/energy/oil-prices-extend-gains-after-us-crude-stocks-draw-2024-01-10/

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3. finance.yahoo.com › news › oil-prices-fall-afterOil prices fall after surprise inventory build in US

   finance.yahoo.com › news › oil-prices-fall-after

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   Jan 10, 2024 · Oil prices, which had risen for a second day in a row on Wednesday amid escalating attacks by Houthi rebels in the Red Sea, fell into negative territory after inventory data showed a surprise build...

   • Oil prices settle lower after surprise US inventory build

     CL. Investing.com-- Oil prices settled lower Wednesday for...

   • Oil prices settle lower as supply surplus, demand concerns linger

     Investing.com-- Oil prices settled lower Thursday, as...

4. www.reuters.com › business › energyOil prices fall 1% after surprise US storage build | Reuters

   www.reuters.com › business › energy

   Jan 10, 2024 · NEW YORK, Jan 10 (Reuters) - Oil prices fell nearly a dollar a barrel on Wednesday after a surprise jump in U.S. crude stockpiles raised worries about demand in the largest oil market. U.S. West...

5. Videos

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     Oil prices steady after surprise build in US crude stocks - CNBC TV18

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     Oil prices fall after surprise inventory build in US

     Jan 10, 2024

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     Coronavirus: oil price collapses as demand falls further - BBC News

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6. www.reuters.com › business › energyOil prices settle 1% lower after surprise rise in US crude ...

   www.reuters.com › business › energy

   Aug 14, 2024 · Oil prices settled 1% lower on Wednesday after U.S. crude inventories rose unexpectedly and as worries eased slightly that a wider Middle East conflict could threaten supplies from one of the ...

7. www.reuters.com › markets › commoditiesOil dips as surprise US crude stockbuild faces supply cuts

   www.reuters.com › markets › commodities

   Sep 13, 2023 · Oil prices edged lower on Wednesday, after earlier hitting a 10-month high, as a surprise build in U.S. crude inventories offset expectations of tight crude supply for the rest of the...

8. finance.yahoo.com › news › oil-prices-fall-furtherOil prices settle lower after surprise US inventory build

   finance.yahoo.com › news › oil-prices-fall-further

   • Cached

   May 22, 2024 · CL. Investing.com-- Oil prices settled lower Wednesday for the third-straight day as an unexpected build in U.S. inventories cast doubt over demand in the world's largest crude consumer. At...

9. finance.yahoo.com › news › oil-prices-dip-surpriseOil prices settle lower as supply surplus, demand concerns linger

   finance.yahoo.com › news › oil-prices-dip-surprise

   • Cached

   Jun 13, 2024 · Investing.com-- Oil prices settled lower Thursday, as concerns over supply outstripping demand persist a day after a surprise build in U.S. crude inventories, but losses were kept in...

10. oilprice.com › Energy › Crude-OilOil Prices Slip After Surprise Build In Crude Inventories

    oilprice.com › Energy › Crude-Oil

    • Cached

    Nov 8, 2017 · After Brent and WTI both fell yesterday as traders started taking profit on the latest price rally, the EIA reported that U.S. crude oil inventories went up in the week to November 3, by 2.2...