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Oil prices slipped to their lowest level in four weeks

August 9, 2018
Recap: Oil prices slipped to their lowest level in four weeks on Wednesday as total U.S. stockpiles of oil and fuel reached a seven-month high and trade wars between China and the U.S. heat up, giving rise to concern about demand. The build of 3.3 million barrels in total stocks ... Read More
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Crude oil prices posted moderate gains following a reduction in Saudi production

August 8, 2018
Recap: Crude oil prices posted moderate gains following a reduction in Saudi production and fear that U.S. sanctions against Iran could lead to supply shortfalls. September WTI climbed back toward $70 a barrel, but for the second straight session lacked enough strength to surpass ... Read More
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An unexpected drop in Saudi crude production lifted oil prices on Monday

August 7, 2018
Recap: An unexpected drop in Saudi crude production lifted oil prices on Monday, taking prices to their highest level in four days. October Brent pushed passed $74.07, the 10-day moving average, to a high of $74.47 a barrel, while September WTI blew passed its 10-day moving avera ... Read More
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Oil prices fell from early gains as trade war jitters continue to permeate the marketplace

August 6, 2018
Recap: Oil prices fell from early gains as trade war jitters continue to permeate the marketplace. Traders are left to grapple with the impact such wars can and will have on oil demand and therefore are forced to trade with uncertainty. Prices were also pushed and pulled by a dol ... Read More
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Genscape report suggested U.S. crude stocks held in Cushing, OK fell 1.1 million barrels since July 27

August 3, 2018
Recap: Oil prices rose for the first time in three sessions as traders reacted to a Genscape report suggesting U.S. crude stocks held in Cushing, OK fell 1.1 million barrels since July 27. Prior to the report, prices were trading at their lowest level in 10 sessions on concerns a ... Read More
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EIA reported a 3.8 million barrel build in U.S. crude oil inventories

August 2, 2018
Recap: Oil prices fell on Wednesday after the EIA reported an unexpected 3.8 million barrel build in U.S crude oil inventories. Expectations were calling for a draw of 2.8 million barrels. Prices opened the session trading just below unchanged as traders continued to focus on a t ... Read More
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Reuters’ survey put OPEC production for the month of July at 32.64 million barrels per day

August 1, 2018
Recap: Oil prices retreated from 3 week highs as concerns regarding supply constraints eased. WTI slipped as much as 2.3%, as it fell back below $69.00 a barrel, while Brent closed in on $74.00 a barrel. The sell-off came as a result of a Reuters’ survey, which put OPEC productio ... Read More
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OPEC increased production by 70,000 barrels per day during the month of July

July 31, 2018
Recap: Despite a Reuters survey showing that OPEC increased production by 70,000 barrels per day during the month of July, oil prices rose, with WTI settling above $70 a barrel for the first time in 3 weeks. Prices remain on the defensive due to an outlook calling for tight suppl ... Read More
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There was a 4.1% rise in the U.S. gross domestic product for the 2nd quarter

July 30, 2018
Recap: Oil prices slipped on Friday, pressured by a falling U.S. equities market, but despite daily losses, both blends finished up on the week. Prices couldn’t gain enough momentum off the impressive 4.1% rise in the U.S. gross domestic product for the 2nd quarter, alluding to u ... Read More
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Oil prices rose as Saudi Arabia temporarily stopped crude shipments through Bab el-Mandeb strait

July 27, 2018
Recap:  Oil prices rose for the third straight session, getting a boost as Saudi Arabia temporarily stopped crude shipments through the Bab el-Mandeb strait in the Red Sea after accusing Iran allied rebels of attacking a pair of tankers. September WTI stopped just below $70 a bar ... Read More
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