COVID-19 Response
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Oil futures fell on Thursday in a volatile trading session

December 23, 2022
Recap: Oil futures fell on Thursday in a volatile trading session as the impact of tighter U.S. crude oil supplies due to a winter storm in the U.S. was outweighed by fears that Federal Reserve interest rate hikes and China’s rising COVID cases would crimp demand. February WTI fe ... Read More
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Oil prices rose by more than $2 a barrel on Wednesday

December 22, 2022
Recap: Oil prices rose by more than $2 a barrel on Wednesday after data showed a larger-than-expected draw in U.S. crude stockpiles, but gains were capped by a snowstorm that is expected to hit U.S. travel. Prices were also boosted by hopes that China would relax some COVID-19 cu ... Read More
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US benchmark crude-oil contract for February delivery finishes 1.1% higher

December 21, 2022
Recap: The most-active US benchmark crude-oil contract for February delivery finishes 1.1% higher at $76.23 a barrel, helped by a weaker dollar that made overseas purchases of dollar-denominated crude more attractive to foreign buyers. China’s cloudy demand outlook limited gains ... Read More
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Oil prices rose on Monday

December 20, 2022
Recap: Oil prices rose on Monday, as optimism around China relaxing its COVID-19 restrictions outweighed fears of a global recession that would weigh on energy demand. Spreading Covid-19 in China is creating worries about demand for commodities like oil, but the announcement of t ... Read More
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Oil futures fell over 3% in overnight trading on Friday

December 19, 2022
Recap: Oil futures fell over 3% in overnight trading on Friday, erasing gains made earlier in the week. Prices were pressured after rate increases by major central banks and their accompanying messages stoked fears of a global downturn. Inventory builds across the board in the Un ... Read More
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Concern About the Outlook for Fuel Demand Increased

December 16, 2022
Recap:  Oil futures fell on Thursday, as concern about the outlook for fuel demand increased, and as the U.S. dollar strengthened amid further interest rate hikes by global central banks, spreading worry among traders. Thursday’s drop in oil prices stemmed three straight days of ... Read More
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Oil Futures Rose to Their Highest Level in Just Over a Week

December 15, 2022
Recap : Despite a whopping 10.2 million barrel increase in U.S. crude oil inventories, oil futures rose to their highest level in just over a week, supported by the International Energy Agency’s forecasts for stronger demand growth this year and next. The large build in crude sto ... Read More
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Pipeline to the U.S. Remained Shut Amid What Potentially Could Be One of the Coldest Cold Snaps

December 14, 2022
Recap:  Oil futures rose on Tuesday, as an important pipeline to the U.S. remained shut amid what potentially could be one of the coldest of cold snaps in decades. This, along with Russia suggesting it might cut production and a cooler than expected U.S. inflation reading pressur ... Read More
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A Key Pipeline Supplying the United States Closed

December 13, 2022
Recap:  Oil prices gained about $2 a barrel on Monday on supply jitters, as a key pipeline supplying the United States closed and Russia threatened a production cut even as China's loosening COVID-19 restrictions bolstered the fuel demand outlook. Traders also worried about how l ... Read More
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Oil Prices Spent the Week Struggling on the Upside

December 12, 2022
Recap:  Oil prices spent the week struggling on the upside despite multiple bullish catalysts. The unpredictability of this market has left traders scratching their heads and leery of taking on too much risk. Even with an ample supply of supportive fundamentals, such as the easin ... Read More
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