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Oil prices saw further gains this week as tensions in the Middle East escalated, propelling WTI crude to around US$87 a barrel, while the global benchmark, Brent, approached US$91, nearing its highest level since October. Commodities. 7:45. OPEC cuts are creating a sizeable oil supply deficit, which looks to continue: researcher.
Jun 7, 2022 · Oil Tops $122 as US Inventory Data Highlights Fuel Supply Crunch. Gasoline inventories dropped over 800k barrels last week: EIA; Prices haven’t peaked as China’s demand set to rebound: UAE
Feb 22, 2024 · Brent slid below US$83 a barrel and the global benchmark has traded in a $2.30 band this week, the narrowest since early 2021. Timespreads are indicating a more robust market, and US crude inventories expanded less than forecast, but many analysts still expect a surplus this year.
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