Crude Oil Down After Data Showed Rise In U.S. Crude

Crude Oil

Crude oil yesterday settled down by -4.88% at 4465 after official data showed a sustained rise in U.S. crude and fuel inventories, while the ever-present pandemic clouded the demand outlook. U.S. crude oil, gasoline and distillate stockpiles all rose last week, as refiners boosted output with more facilities coming back online following February’s devastating storms in Texas.

Read moreCrude Oil Down After Data Showed Rise In U.S. Crude

Crude Oil

Crude Oil Retreats as Stronger US Dollar Eases Foreign Demand – Crude Oil Price Analysis

live crude oil price in dollar

On Wednesday U.S. West Texas Intermediate and international-benchmark crude oil futures are trading lower after giving back earlier gains. Since weather concerns in Texas drove the market higher earlier in the session, I suspect that new forecasts calling for a break in the extremely cold conditions may be encouraging investors to book profits.

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Crude Oil Retreats as Stronger US Dollar Eases Foreign Demand – Crude Oil Price Analysis via @MasterMindUpdate

Oil Giant Shell Says Its Oil Production And Carbon Emissions And Have Peaked

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On Thursday oil major Royal Dutch Shell outlined the details of its near-term and long-term plans to transition to cleaner energy, saying its oil production and total carbon emissions have already peaked. The announcement comes at a time when the oil and gas industry is under immense pressure to dramatically speed up its plans to pivot away from fossil fuels, amid deep concern about the effects of the climate emergency.

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