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Oil Edges Higher on Signs of Major Drawdown in U.S. Inventories
Oil climbed to trade near a two-month high on signs of a significant drawdown in US crude stockpiles.
Crude Oil Churns on Tuesday, but Losses Limited After Steep API Drawdown
West Texas Intermediate (WTI) US Crude Oil briefly clipped into a nine-week peak just shy of $84.00 per barrel on Tuesday before mid-US session market flows pulled barrel bids back down to $82.50.
Due to the double catalysis of the Middle East situation and hurricanes, crude oil trading has reached nearly a two-month high.
Due to the escalating tension in the Middle East and concerns over the rapid onset of the Atlantic hurricane season, crude oil trading has reached a two-month high after breaking through the recent trading range.
Oil Prices Rise as Traders Continue to Bet on Market Tightening
0800 GMT - Oil prices rise after closing higher for the third consecutive week on Friday. Brent crude is up 0.7% to $85.59 a barrel, while WTI trades 0.8% higher to $82.17 a barrel. Expectations for a
Oil Edges Higher on U.S. Rate Cut Hopes, Geopolitical Jitters
0748 GMT - Oil prices are rising on hopes that the U.S. central bank will soon start cutting interest rates and fears of a wider war between Israel and Iran-backed militia group Hezbollah. Both benchm
Crude Oil Prices Stabilize Even as U.S. Inventory Build Exceeds Expectations, ANZ Bank Says
Crude oil prices were little changed despite a stronger-than-expected build in U.S. crude oil inventories, ANZ Bank said in a Thursday note. U.S. crude stockpiles rose by 3.6 million barrels last week