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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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OPEC lead production cuts remain overshadowed by robust U.S. production

February 16, 2018
Recap: Oil prices slipped in overnight trading however, WTI gained has the dollar weakened while Brent came under pressure as OPEC lead production cuts remain overshadowed by robust U.S. production. The early morning sell-off was attributed to Wednesday’s rebound being perhaps a ... Read More
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EIA report indicated U.S. crude oil stocks had increased less than expected

February 15, 2018
Recap: What started out to look like another down day for oil prices, was quickly reversed after the EIA report indicated U.S. crude oil stocks had increased less than expected and after the Saudi Energy Minister said his country will cut an additional 100,000 barrel per day of p ... Read More
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IEA raised its forecast for non-OPEC production, which put pressure on oil prices early in the session

February 14, 2018
Recap: Citing ever mounting U.S. shale production, the IEA raised its forecast for non-OPEC production, which in turn put pressure on oil prices early in the session. March WTI fell as much as 1.5%, while April Brent dipped as much as 1.3% during the trading session. Weakness in ... Read More
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Oil prices rebounded along with global equities

February 13, 2018
Recap: Oil prices rebounded along with global equities, which, last week, experienced their largest decline in two years. The rebound came as the dollar weakened and after OPEC raised its oil demand forecast. March WTI briefly climbed back over $60 a barrel, but stopped short of ... Read More
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Ramped up operations on the North Sea pipeline and a jump in the US oil rig count have further fueled the recent freefall in oil prices

February 12, 2018
Recap:  Oil prices fell to their lowest level since December, with March WTI falling as much as 5% on the day, reaching a low of $58.07, and April Brent slipping as much as 3.1% to a daily low of $61.77. The recent freefall in prices, which was fostered by healthy U.S. production ... Read More
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