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A rise in equities and a slip in the dollar added strength to the market

May 31, 2018
Recap: WTI reversed 5 straight days of declines, as Russia’s central bank cautioned against plans to boost output and on forecasts calling for a decline in U.S. crude oil inventories. A rise in equities and a slip in the dollar added strength to the market. Both blends climbed st ... Read More
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On Tuesday WTI fell as much as 3 percent

May 30, 2018
Recap: Last week’s slide in oil prices continued on Tuesday, with WTI falling as much as 3 percent, as hedge funds gave up on bets that prices had more upside potential. Spot WTI fell below $66 a barrel, slipping below the 50-day moving average for the first time since April 6th. ... Read More
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Russia and Saudi Arabia are discussing raising OPEC and non-OPEC oil output by 1 million bpd

May 29, 2018
Fundamental News: Russia’s Energy Minister, Alexander Novak, said that the process of easing global oil output cuts will likely be a gradual one.  He discussed the issue earlier on Friday with OPEC’s Secretary General and Saudi Arabia’s Energy Minister.  Russia and Saudi Arabia a ... Read More
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Oil prices slipped on growing expectations that OPEC will increase its output to alleviate any shortfalls

May 25, 2018
Recap: Oil prices slipped for the third straight session on growing expectations that OPEC will increase its output to alleviate any shortfalls due to U.S. imposed sanctions against Iran and dwindling output from Venezuela. Prices also fell as traders booked profits ahead of the ... Read More
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EIA report indicated an unexpected build in U.S. crude oil and gasoline

May 24, 2018
Recap: Oil prices slipped on Wednesday after the EIA reported an unexpected build in U.S. crude oil and gasoline inventories. The possibility that OPEC may increase output to make up for any shortfalls from Iran and Venezuela also weighed on prices. July WTI was trading slightly ... Read More
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The possibility of crude oil hitting $100 a barrel caused oil prices to increase

May 23, 2018
Recap: Oil prices posted gains early in the session, as the possibility of crude oil hitting $100 a barrel began to sink in. Prices continue to gain strength from geopolitical tensions and strong demand, amid tighter global supply. Despite these early gains, prices slipped from s ... Read More
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Oil prices recovered following discussions about the issuing of new debt to Venezuela

May 22, 2018
Recap: After opening the session at basically unchanged, oil prices drifted sideways in overnight trading before dipping below Friday’s close. Prices recovered following discussions between U.S. President Donald Trump, Russia and China about the issuing of new debt to Venezuela. ... Read More
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Traders were focused on Venezuela's presidential election that was held on Sunday

May 21, 2018
Recap: Oil prices slipped on Friday; however, WTI posted its fourth straight week of gains, while Brent settled higher for the sixth straight week. The lack of new fundamentals is beginning to take its toll on prices, holding them at 3 and half year highs. Traders are focused on ... Read More
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Oil prices reached fresh 3.5 year highs

May 18, 2018
Recap: Oil prices reached fresh 3 ½ year highs, with Brent topping $80 a barrel for the first time since November 2014 and WTI tipping the charts above $72 a barrel in as much time. Geopolitical tensions continue to drive this market, especially Brent, while rising U.S. productio ... Read More
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EIA reported a 1.4 million barrel draw in U.S. crude oil stocks

May 17, 2018
Recap: Wednesday’s trading activity was a mirror image of Tuesday’s session, with oil prices trading in a mixed fashion. WTI bounced on its initial reaction to the EIA’s report of a 1.4 million barrel draw in U.S. crude oil stocks, but strength in the dollar overshadowed the repo ... Read More
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