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The U.S. crude oil stockpile soared by more than 10 million barrels last week according to the latest official report. Inventories have now risen for eight consecutive weeks.
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The U.S. natural gas stockpile rose a bit more than expected last week and prices for the fuel have dropped by some 14% since yesterday's high.
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The boom in U.S. oil and gas production over the past decade has been a somewhat moderating force on what is a large domestic merchandise trade deficit by helping reduce the country’s net petroleum...
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If there is a major export cut from the Saudis, OPEC or any other large producers, the United States has a massive buffer in the Strategic Petroleum Reserve.
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The U.S. national average for a gallon of regular gas fell by nearly six cents last week to begin the new week at $2.67. Weekly prices dropped in every state.
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Saudi Arabia, one of the world's largest producers, said it would cut output, almost certainly a catalyst for an oil price rise.
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Retail pump prices for regular gas are tumbling as crude oil prices tumble. In some states in the heart of U.S. oil country, the price is already down to near $2 a gallon.
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The U.S. land-based oil rig count soared this week as new rigs were added in bunches to Oklahoma's Anadarko basin and the portion of the Permian basin located in New Mexico.
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The U.S. natural gas stockpile rose sharply last week and is helping chip away at the big boost to natural gas prices that we saw earlier this week.
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The U.S. commercial crude oil inventory rose by nearly 6 million barrels last week while gasoline inventories rose by nearly 2 million barrels. Falling prices will get no boost from this report.
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In its Short-Term Energy Outlook for November, the U.S. Energy Information Administration forecasts a big drop in gasoline prices by the end of this year and lower average crude oil prices per barrel...
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U.S. retail gasoline prices have reached their lowest point since April according to weekly data from Gasbuddy. Pump prices fell in 48 states over the last week.
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Natural gas prices are at 12-month highs following a forecast of colder weather coming later this week. Short covering is adding to the boost in both commodity prices and stock prices for major...
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U.S. sanctions against Iran went into effect today, six months after the Trump administration announced the sanctions. The impact on crude markets has been downgraded over the period, but prices did...
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