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Oil prices rise more than 3%! "Double Storm" in the Middle East situation upgraded + Libya suspends exports.
The eastern government of Libya announced today that it has halted all crude oil production and exports. Concerns about disruptions in crude oil supply have soared due to the large-scale attack on Israel announced by Hezbollah yesterday. Brent crude oil touched $81 at one point today, while WTI crude oil rose above $77.
Pepe Price Forecast: PEPE Poised for a 15% Slump as It Fails to Overcome Key Barrier
The bulls and bears are deadlocked, and oil prices are hovering in the range of 75-90 US dollars.
The trend of significant volatility in oil prices at the beginning of August has quickly reversed and is currently hovering in the range of $75-90.
Alberta Energy Regulator Penalizes Imperial Oil, Releases First Finding From Ongoing Kearl Investigation
Oil prices fall + production cuts, Saudi Arabia's June oil exports drop to a three-year low.
Due to falling oil prices and production cuts, Saudi Arabia's petroleum export revenue has fallen to its lowest level in three years.
US Total Crude Oil Stocks Decline in Week Ended Aug. 16
