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OPEC lead production cuts remain overshadowed by robust U.S. production

February 16, 2018
Recap: Oil prices slipped in overnight trading however, WTI gained has the dollar weakened while Brent came under pressure as OPEC lead production cuts remain overshadowed by robust U.S. production. The early morning sell-off was attributed to Wednesday’s rebound being perhaps a ... Read More
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EIA report indicated U.S. crude oil stocks had increased less than expected

February 15, 2018
Recap: What started out to look like another down day for oil prices, was quickly reversed after the EIA report indicated U.S. crude oil stocks had increased less than expected and after the Saudi Energy Minister said his country will cut an additional 100,000 barrel per day of p ... Read More
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IEA raised its forecast for non-OPEC production, which put pressure on oil prices early in the session

February 14, 2018
Recap: Citing ever mounting U.S. shale production, the IEA raised its forecast for non-OPEC production, which in turn put pressure on oil prices early in the session. March WTI fell as much as 1.5%, while April Brent dipped as much as 1.3% during the trading session. Weakness in ... Read More
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Oil prices rebounded along with global equities

February 13, 2018
Recap: Oil prices rebounded along with global equities, which, last week, experienced their largest decline in two years. The rebound came as the dollar weakened and after OPEC raised its oil demand forecast. March WTI briefly climbed back over $60 a barrel, but stopped short of ... Read More
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Rising U.S. production continued to pressure oil prices

February 9, 2018
Recap: Rising U.S. production continued to pressure oil prices, pushing both blends to their lowest level in six weeks and their fifth straight session of losses. After a brief stint above unchanged, March WTI slipped as much as 1.1%, while Brent slipped 1.2%. An attempt to sever ... Read More
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Oil prices were dragged lower by weakness in global stocks

February 7, 2018
Recap: Oil prices fell as much as 1.6% on Tuesday, dragged lower by weakness in global stocks. Brent fell to a five week low, while WTI settled below $63.67, the bottom of an area of congestion. Gains were slightly pared, with WTI settling at $63.39 a barrel, down 76 cents, or 1. ... Read More
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Oil futures fell to their lowest level in over a week

February 6, 2018
Recap:  The rally in oil prices continued to deteriorate, with oil futures falling to their lowest level in over a week. Pressure was provided by increasing U.S. production, a rising dollar and a falling equities market. In overnight trading, prices failed to hold above the $65.1 ... Read More
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Oil prices fell for the second time in seven weeks

February 5, 2018
Recap:  Oil prices fell for the second time in seven weeks, pressured by strength in the, dollar following a stellar U.S. jobs report. Friday’s sell-off stymied the rally that began at the onset of the New Year, which was sparked by healthy global demand and OPEC’s adherence to o ... Read More
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The market appears to be rebalancing sooner than expected

February 2, 2018
Recap: Oil prices bounced on Thursday, having been propped up by several factors. Among these factors were signs that OPEC members are adhering to their agreed upon output cuts, Goldman Sachs raising its price forecast for Brent from $62 a barrel to $82.50 a barrel and strong pro ... Read More
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EIA reported that crude oil stockpiles rose 6.8 million barrels

February 1, 2018
Recap: The downside correction in oil prices continued on Wednesday, encouraged by the larger than expected increase in U.S. crude oil inventories. According to the EIA, crude oil stockpiles rose 6.8 million barrels, much greater than the 3.230 million barrel build reported by th ... Read More
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