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Oil markets spiraled on the news, falling as much as 4% on Thursday. A report that Saudi Arabia would ditch its unofficial crude price target sent crude oil prices sharply lower on Thursday.
Oil prices plunged to their lowest level since December 2021, with Brent oil falling 4% to $68.99 on Tuesday. Supply and demand issues, including a slowdown in China's economy, are pressuring prices.
Oil prices dipped to their lowest point of the year this week despite the recent announcement by OPEC and its ... Prices of Brent crude, the global benchmark, declined 4% to about $79.50 a barrel ...
One result of those slack prices is that U.S. average pump prices for gasoline fell to $3.03 a gallon this week, the lowest since May, 2021 and well down from their record peak of $5.02 from June ...
June contract WTI crude oil prices plunged another 24% on Tuesday to $15.32 after May contracts dropped below $0 for the first time in history on Monday. U.S. crude oil storage capacity is maxed ...
U.S. crude oil and distillate inventories were expected to have fallen last week, while gasoline stocks likely rose, a preliminary Reuters poll showed ahead of a report from the American Petroleum ...
Oil futures tumbled on Tuesday, with Brent dropping below $40 a barrel for the first time since June and U.S. crude off more than 8%, after Saudi Arabia cut its October selling prices and there ...
Oil related stocks slid on Tuesday amid pressure on the underlying commodity. The Energy Select Sector SPDR Fund ( XLE ), was down more than 2% during the session on Tuesday. XLE is roughly 10% ...