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Crude Inventory Fell 3.4M Barrels for Week Ended July 26 - EIA
Express News | U.S. Crude Futures Rise Nearly $1 to Intraday High of $75.71/bbl Following News of Hamas Chief's Death in Iran
Oil Rises After Industry Report Shows Another US Stockpile Draw
Biden Administration Continues Refilling Oil Emergency Reserve, Needs Funds to Buy More
The Biden administration is seeking additional funds to bolster the petroleum reserves. The energy department only has 1.2 billion US dollars left in its account to purchase crude oil products.
The US Department of Energy has been slowly replenishing its global strategy petroleum reserves, which have decreased to an unprecedented low since the Russia-Ukraine conflict, reaching the lowest level in forty years.
Brent Crude Slips Below $80 as Demand Concerns Outweigh Middle East Risks