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- A strengthening dollar, which gained as investors bet on the U.S. economy outperforming peers, weighed on crude oil prices. A stronger greenback dampens oil demand by making the dollar-denominated commodity more expensive for investors holding other currencies.
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Why are oil prices rising?
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Is a heavy weight leaning on global oil markets?
Apr 9, 2024 · April 9, 2024. Oil prices have climbed in recent weeks, spurred by concerns over supplies and geopolitical risks, including wars in Ukraine and the Middle East. Analysts say the momentum could...
May 8, 2024 · NEW YORK, May 8 (Reuters) - Oil prices edged higher on Wednesday after data showed U.S. crude stockpiles fell last week as refiners slowly ramped up output ahead of the summer driving season,...
- Nicole Jao
Dec 7, 2023 · A heavy weight is leaning on global oil markets as prices slide to five-month lows: record US supply. American crude oil production reached a fresh all-time high of 13.2mn barrels a day in...
- Jamie Smyth
Feb 22, 2024 · U.S. oil futures settled higher on Thursday, after official data revealed a fourth straight weekly climb in U.S. crude inventories that was also smaller than most market expectations....
Aug 8, 2023 · NEW YORK, Aug 8 (Reuters) - Oil prices edged higher on Tuesday as a U.S. government agency projected a rosier outlook on the economy, but bearish data on China's crude imports and exports...
Sep 28, 2023 · HOUSTON, Sept 27 (Reuters) - Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies.
Sep 22, 2021 · Oil prices climbed more than $1 on Wednesday after U.S. crude stocks fell to their lowest levels in three years as refining activity recovered from recent storms. Despite recent wobbles from U.S ...
