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Baker Hughes reported the number of active rigs in the US increased by one unit, to 800 on the week

March 5, 2018
Recap: Despite staging a session comeback, oil prices settled at their lowest level in three weeks. Prices were hammered on Thursday after President Trump announced the imposition of tariffs on steel and aluminum, which instilled concerns about a global trade war. Losses were par ... Read More
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Oil prices fell to their lowest level in two weeks

March 2, 2018
Recap: Oil prices took a hit for the third straight session after President Trump announced the imposition of tariffs on steel and aluminum imports to the U.S; which dragged down global equities. A rising U.S. dollar also added pressure. Prices fell to their lowest level in two w ... Read More
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EIA reported a larger than expected build in U.S. crude oil inventories

March 1, 2018
Recap: Oil prices received an early boost after it was reported OPEC output fell to a 10-month low as the UAE over-delivered on its agreement to cut output. April WTI gained as much as 0.68%, while Brent for April delivery tacked on 0.37%. Gains were short lived after the EIA rep ... Read More
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The oil market seems to be pressured by the strength in the dollar

February 28, 2018
Recap: The oil market opened 15 cents higher and quickly posted a high of $64.08 before it started to erase its previous gains.  The oil market seemed to have been pressured by the strength in the dollar, which was well supported after Federal Reserve Chairman, Jerome Powell, sai ... Read More
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Oil prices continued their upward route to a three week high

February 27, 2018
Recap: Oil prices continued their upward route on Monday, rising to a three-week high, supported by OPEC’s commitment to output cuts, supply disruptions in Libya and by strong U.S. demand. April WTI rose to a high of $64.24 before severing gains for a settlement of $63.91 a barre ... Read More
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Oil prices finished higher for the second straight week

February 26, 2018
Recap: Oil prices finished higher for the second straight week, tacking on more than 3%, gaining support from falling Libyan production, bullish rhetoric from Saudi Arabia’s energy minister and a decline in U.S. inventories. WTI closed in on $64, falling short by 27 cents, while ... Read More
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EIA report indicated US crude oil stocks fell 1.6 million

February 23, 2018
Recap: Oil prices, which were heading lower early in the session, reversed course after the release of the EIA report, which indicated U.S. crude oil stocks fell 1.6 million. In its initial reaction, April WTI jumped sharply, tacking on more than $21 before falling into a 30 cent ... Read More
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Oil prices headed lower early in the session on Wednesday

February 22, 2018
Recap: Oil prices headed lower early in the session on Wednesday, following a mixed move on Thursday. The ease came as the dollar strengthened amid expectations that U.S. crude oil inventories increased. Both blends fell to their lowest level in three days before diverting from o ... Read More
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Differing U.S. data reported last week showed U.S. crude oil inventories held at Cushing shrinking and shale output continuing to rise

February 21, 2018
Recap: Oil prices were mixed on Tuesday, with Brent coming under pressure as maintenance gets under way in that region and with WTI increasing on concerns of tighter supplies out of Canada. The divergence comes on the heels of differing U.S. data reported last week, which showed ... Read More
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Both gasoline and heating oil were up 3% for the week

February 20, 2018
Recap:  After falling in overnight trading, WTI rebounded, hitting a high of $61.99 on Friday, its highest level in a week. The up move was fueled by a weaker dollar, which fell to its lowest level in three years. As the dollar pared losses, oil prices slipped but held on to week ... Read More
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