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Oil surged on Friday as tensions in the Red Sea escalated following attacks by the US and its allies against Yemeni sites controlled by Iran-backed Houthi rebels.
On Tuesday oil alliance OPEC maintained its prior forecast for global oil demand to grow by 2.2 million barrels per day in 2024. In March OPEC+ extended output cuts of 2.2 million per day into the ...
The session high was more than $80, highest this year so far. U.S. West Texas Intermediate crude futures climbed 66 cents, or 0.9%, to settle at $72.68, paring gains after touching a 2024 high of ...
Representation of a oil derrick. The Texas oil boom, sometimes called the gusher age, was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas.
Shortly after talks between union and oil company representatives ended on the night of the 20th, the union notified Motiva Enterprises of a strike by its members at the company's 600,250-barrel-per-day (bpd) refinery in Port Arthur, Texas. [7] Port Arthur Refinery (Motiva Enterprises), Port Arthur, Texas
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Trump also mentioned his intent to impose tariffs on Canada and Mexico starting Feb. 1, sparking concerns of a trade war that could impact economic growth and, as a result, oil consumption.
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