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The EIA reported an unexpected build in U.S. crude oil inventories

May 23, 2019
Recap: Oil prices fell as much as 2% on Wednesday as the EIA reported an unexpected build in U.S. crude oil inventories. According to the report, U.S. crude oil inventories grew by 4.7 million barrels in the week ending May 17, to their highest level in almost 2 years. Analysts w ... Read More
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Oil prices were pressured by trade disputes between the U.S. and China

May 22, 2019
Recap: Oil prices bounced around the unchanged level on Tuesday, with tensions in the Middle East providing early support, while trade disputes between the U.S. and China added pressure. A lack of fresh fundamentals has kept prices contained within a $4.00 trading range for the p ... Read More
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OPEC indicated that it would most likely stick to current production cuts

May 21, 2019
Recap: After trading at their highest level in almost 3 weeks, oil prices eased on Monday as OPEC indicated it would most likely stick to current production cuts. June WTI hit a high of $63.81 a barrel, up $1.05, or 1.67%, while July Brent rose $1.18, or 1.6%, to a session high o ... Read More
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Oil prices traded mostly flat in what was a volatile session

May 20, 2019
Recap: After moving higher in overnight trading on Friday, oil prices traded mostly flat in what was a volatile session.  In early trading, July Brent was up 61 cents at $73.23 a barrel by 6:22 am EDT, while June WTI added 77 cents, to trade at a session high of $63.64 a barrel. ... Read More
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Oil prices climbed for the third straight session on Thursday

May 17, 2019
Recap: Oil prices climbed for the third straight session on Thursday, as tensions in the Mid-East heated after a Saudi-led coalition launched air strikes on Iranian aligned Houthi forces in Yemen. June WTI was up $1.46, or 2.3 percent, at $73.36 a barrel by 11:26 EDT, its highest ... Read More
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The EIA reported a 5.4 million barrel decrease in U.S. crude oil inventories

May 16, 2019
Recap: Oil prices rose on Wednesday, erasing early losses, as traders focused on rising tensions in the Middle East, despite the EIA reporting a 5.4 million barrel decrease in U.S. crude oil inventories. June WTI, which had fallen 1.5 percent to a session low of $60.85 prior to t ... Read More
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Oil prices rose as much as 2 percent on Tuesday

May 15, 2019
Recap: Oil prices rose as much as 2 percent on Tuesday after Saudi Arabia said some of its oil infrastructure was attacked by drones, just two days after Saudi oil tankers were damaged off the coast of the United Arab Emirates. July Brent continued to climb higher in late afterno ... Read More
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Oil prices were weighed down by macroeconomic pressures

May 14, 2019
Recap: After posting dramatic gains, oil prices sold off, weighed down by macroeconomic pressures. With equities down more than 2%, crude oil prices were unable to hold on to gains that followed an apparent attack on Saudi Arabian oil tankers near the Persian Gulf. June WTI gaine ... Read More
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Trade tensions between China and the U.S. appear to be heating up

May 13, 2019
Recap: Oil prices were mixed on Friday, with WTI edging lower as trade tensions between China and the U.S. appear to be heating up. After gaining as much as 1.2 percent in early trading, June WTI succumb to pressure, falling from $62.49, the session high, to a low of $61.42. A fa ... Read More
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Traders mulled over the effects that trade talks between China and the U.S. would have on demand

May 10, 2019
Recap: WTI fell on Thursday, while Brent tacked on a few pennies as traders mulled over the effects that trade talks between China and the U.S. would have on demand.  In early trading, June WTI slipped $1.20, to a low of $60.92 a barrel by 10:40 am EDT, while July Brent traded at ... Read More
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