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Prices gathered support off of strong economic growth in China and an unexpected fall in U.S. crude oil stocks

April 18, 2019
Recap: Brent oil reached a fresh high for the year, trading above $72.00 a barrel for the first time since mid-November, while WTI advanced above $64.00 a barrel to a session high of $64.61. Prices gathered support off of strong economic growth in China and an unexpected fall in ... Read More
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Oil prices steadied on Tuesday

April 17, 2019
Recap: Oil prices steadied on Tuesday, as exports from Iran and Venezuela continued to slide and as fighting in Libya increased, raising concern over tightening global supplies. After slipping 41 cents to a session low of $62.99 a barrel, May WTI bounced to a mid-session high of ... Read More
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The EIA reported that US shale production is expected to increase to a record 8.5 million bpd in May

April 16, 2019
Recap: The oil market traded lower on Monday on the possibility that Russia may decide to abandon the agreement between OPEC and non-OPEC producers.  The crude market opened down 13 cents at $63.76 and quickly posted a high of $63.84.  The market, however, gave up its gains amid ... Read More
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Oil prices rose as cuts in Venezuela and Iran tighten supply

April 15, 2019
Recap:  Oil prices rose on Friday as concerns over tightening supplies increased due to supply cuts from Venezuela and Iran and conflicts in Libya. Adding to the up move was supportive trade data out of China, which reported larger than expected surplus as exports surged. The oil ... Read More
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The EIA reported a 7.7 million barrel drop in U.S. gasoline inventories

April 11, 2019
Recap: Gasoline futures surged on Wednesday, hitting a 6 month high after the EIA reported a 7.7 million barrel drop in U.S gasoline inventories. Expectations were calling for a 1.9 million barrel draw. May RBOB futures gained more than 7 cents a gallon, or 3.5 percent, rising to ... Read More
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Oil prices slipped from their nearly six month highs

April 10, 2019
Recap: Oil prices slipped from their nearly six month highs after the International Monetary Fund cut its forecast for global economic growth and as Russia signaled it may back out of its production cutting agreement with OPEC. Prices also slipped as global equities fell after th ... Read More
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Tensions in Libya combined with ongoing production cuts from OPEC pushed prices higher

April 9, 2019
Recap: Oil prices traded at five-month highs on Monday, as fighting in Libya raised concerns of tightening supplies. For the first since October, WTI traded above $64.00 a barrel, while Brent breached $71.00 a barrel.  Tensions in Libya combined with ongoing production cuts from ... Read More
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Crude prices ended the week at a five-month high

April 8, 2019
Recap: Crude prices finished on a positive note, to end the week at a five-month high. Oil markets gained confidence amid rising evidence that Saudi Arabia and other major oil producers are making good on their pledge to reduce production and as supply disruptions from Venezuela ... Read More
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Prices were supported by expectations that global supplies will tighten

April 5, 2019
Recap: After a brief stint to the downside, oil prices reverted to the upside, with June Brent rising above $70.00 a barrel and May WTI edging toward $63.00 a barrel. Prices were supported by expectations that global supplies will tighten and signs of increasing demand as refiner ... Read More
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The EIA reported an unexpected 7.2 million barrel build in U.S. crude oil inventories

April 4, 2019
Recap: Oil prices fell from 5 month highs after the EIA reported an unexpected 7.2 million barrel build in U.S. crude oil inventories for the week of March 29. This compares to the expected 1.2 million barrel draw. Trading was choppy, as prices opened the session trading to the u ... Read More
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