The nation’s stockpiles of commercial crude oil plunged by 11.5 million barrels last week thanks to record-high crude exports, adding more bullish news to oil prices that already were spiking worldwide amid an escalating U.S. conflict with Iran.…
Oil briefly touched $61 a barrel for the first time in three months as strengthening outlooks for manufacturing and trade buoyed demand prospects.
Futures closed 1.2% higher on Tuesday in New York, just 6 cents shy of the …
Source: Reuters
(Reuters) – U.S. crude oil stockpiles rose sharply last week as refineries cut output and exports dropped, while refined products extended a multi-week drawdown, the Energy Information Administration said on Wednesday.
Crude inventories rose by 7.9 million …
