Crude oil prices rise slightly after US stocks do not rise as anticipated.

Following significant decreases in fuel supplies and a less-than-expected increase in U.S. crude inventories last week, oil prices increased little on Thursday. U.S. West Texas Intermediate crude prices increased by 18 cents to $79.31 a barrel, while Brent crude futures increased by 15 cents to $83.11 a barrel. The benchmarks gained almost 1% on Wednesday…

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Crude Oil Increased Because U.S. Inventories Were Drawn More Than Anticipated

A combination of factors boosting market optimism caused crude oil prices to close 0.28% higher at 6399. The market was infused with liquidity and hopes of an economic revival were reinforced by China’s recent stimulus announcements, especially the lowering of the reserve requirement for banks. One of the main factors driving the rising demand for…

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Russian crude oil sanctions were tightened by the United States, which caused crude oil to rise

The price of crude oil had a strong day, rising 5.26% to close at 7,259. The United States tightened its restrictions on Russian crude exports, which led to this remarkable increase. These bans caused supply issues in a competitive market, especially given that fourth-quarter global inventories are predicted to decline. In order to close gaps…

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Crude oil increased due to increased confidence in Chinese refineries’ demand for crude

In anticipation of increased crude demand from Chinese refineries, crude oil yesterday finished up 0.72% at 5877. According to data, China’s throughput at oil refineries increased by 15.4% in May compared to the same month last year, making it the country’s second-highest monthly total ever. According to the International Energy Agency’s (IEA) most recent Oil…

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