Category: Oil
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Oil prices trend up after U.S. retaliatory strikes in Middle East
Oil prices rose Monday after the U.S. launched retaliatory strikes in Iraq and Syria against Iranian forces and their allies over the weekend, raising the risk that the Middle East is heading toward a broader conflict. The West Texas Intermediate contract for March rose 50 cents, or 0.69%, to settle at $72.78 a barrel. The…
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Oil climbs above $77 amidst Red Sea drama
U.S. crude oil on Friday closed out its best week in more than four months, as positive economic news in the world’s two largest economies raised hopes for more robust crude demand this year. The West Texas Intermediate contract for March gained 65 cents, or 0.84%, to settle at $78.01 a barrel. The Brent contract…
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Oil Outlook: Prices Rise After Ukraine Attacks Major Russian Terminal; Middle East Crisis Persists
Oil prices rose on Tuesday after Ukraine reportedly attacked a major Russia fuel terminal over the weekend, raising renewed concerns about supply disruptions. The West Texas Intermediate futures contract for February gained $1.78, or 2.42%, to settle at $75.19 a barrel. The Brent contract for March rose $1.50, or 1.91%, to settle at $80.06 a…