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Oil prices slipped about 1% on Tuesday

January 8, 2020
Recap: Oil prices slipped about 1% on Tuesday, giving back gains made over the last three sessions, as traders weighed in on what impact, if any, the U.S. drone strike in Iran would have on crude oil supplies. After gapping lower on the opening, both WTI and Brent made a failed a ... Read More
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WTI traded at its highest level since early May

January 7, 2020
Recap: Oil prices added to the more than 3% gain from the previous week, with WTI trading at its highest level since early May. Prices were boosted by the U.S. airstrike last week that killed a top ranking Iranian military commander, which raised concern over global supplies. Feb ... Read More
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U.S prices were lifted to their highest in eight months

January 6, 2020
Recap: Oil futures rallied Friday, briefly lifting U.S. prices to their highest in eight months, after a U.S. airstrike in Iraq killed one of Iran’s top military commanders, sparking fears of an escalation of tensions in the Middle East that could disrupt the flow of crude. In ea ... Read More
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Prices traded flat in both the WTI and Brent markets

January 3, 2020
Recap: Trading was quiet with prices trading flat in both the WTI and Brent markets, as traders came back from the Christmas/New Year holidays. Prices were supported by signs of improving trade relations between the U.S. and China but strength in the dollar worked to keep a lid o ... Read More
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The US EIA reported that US crude oil production in October increased to a record 12.66 million bpd

January 2, 2020
Fundamental News: The US EIA reported that US crude oil production in October increased to a record 12.66 million bpd from a revised 12.48 million bpd in September.  It also reported that US total oil demand in October increased by 0.2% or 38,000 bpd on the year to 20.772 million ... Read More
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Oil futures turned mixed after hitting a three-month high

December 31, 2019
Recap: Oil futures turned mixed after hitting a three-month high Monday, lifted by upbeat expectations around the global economy and optimism over an expected trade deal between the U.S. and China, while traders also kept an eye on developments in Iraq and Syria. February WTI ros ... Read More
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New data showed that U.S. crude inventories fell more than expected

December 30, 2019
Recap: Oil was little changed on Friday, steadying near three-month highs after new data showed U.S. crude inventories fell far more than expected, while upbeat economic data and optimism over a U.S.-China trade deal fueled a year-end stock market rally. February WTI rose 4 cents ... Read More
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The API reported a 7.9 million barrel drop in U.S. crude oil inventories

December 27, 2019
Recap: Crude oil prices rose on Thursday after the API reported a 7.9 million barrel drop in U.S. crude oil inventories. WTI rose to its highest level in 3 ½ months, with the February contract trading at a session high of $61.83 a barrel, before paring gains to settle at $61.68 a ... Read More
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Oil prices edged higher on Monday

December 24, 2019
Recap: Oil prices edged higher on Monday, despite reports indicating that a recent pact to curb global output by OPEC and its allies may be eased and as Kuwait and Saudi Arabia appeared close to a resolution on a disputed territory, which could see fresh oil hit the market in com ... Read More
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The number of active U.S. rigs drilling for oil increased by 18 to 685

December 23, 2019
Recap: Oil prices headed lower on Friday, with declines accelerating after Baker Hughes report that the number of active U.S. rigs drilling for oil increased by 18 to 685, marking the second straight week the number increased. February WTI fell $1.16, or 1.8%, to trade at a sessi ... Read More
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