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Crude Oil Prices Under Pressure From Weak Chinese Demand, ANZ Bank Says
Oil Edges Up On Strong U.S. GDP Data But Asia Economic Woes Limit Gains
Oil Steadies After US Crude Stockpiles Log Fourth Weekly Draw
Oil: Here Comes the Whipsaw – TDS
Combined with weak fuel demand, low profit margins have made the second quarter financial reports of American oil refiners quite pessimistic.
An energy analyst stated that the profit margin of refineries is expected to decline year-on-year in the second quarter due to the sluggish summer driving season, causing a significant drop in profitability for U.S. refineries.
WTI Appreciates Toward $77.50 Ahead of EIA Oil Stocks Change Report