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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.
Meanwhile, gasoline prices continued their months-long slide, dropping to a national average of $3.355 a gallon as of Dec. 7, according to AAA. Prices at the pump are down by 4% over the past week ...
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 are headed lower next year. That's a tailwind for the incoming Trump administration. ... BofA analysis shows prices could drop to an average of $65 per barrel in 2025, particularly if ...
Oil fell slightly on December 11 with WTI at $57.10 and Brent crude $63.08 as U.S. production reached levels not seen since the 1970s and the number of rigs continued to increase. [ 58 ] During the last week of 2017, WTI went over $60 for the first time since June 2015 before falling back to $59.69, while Brent crude passed $67 for the first ...
The mere anticipation of production going materially higher could cause oil prices to "fall at least 10% if not closer to 20%" to the $70 or high-$60s per barrel level, said the analyst.
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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 ...