Author name: Siim

WTI edges lower to near $77.50 due to uncertainties surrounding Oil demand

WTI edges lower to near $77.50 due to uncertainties surrounding Oil demand

WTI Oil price extended losses as Fed officials indicated higher interest rates for longer, which could dampen Oil demand. The crude Oil prices received pressure as China’s lower PPI indicated persistent sluggishness in business demand. Iraq’s Oil minister Hayan Abdul Ghani committed to the voluntary Oil production cuts agreed upon by the OPEC. West Texas Intermediate […]

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MEG Energy says Trans Mountain expansion will boost Canadian oil prices ‘for years’

MEG Energy says Trans Mountain expansion will boost Canadian oil prices ‘for years’

The Canadian Press Apple’s biggest announcements from its iPad event: brighter screen, faster chips and the Pencil Pro CUPERTINO, Calif. (AP) — Apple on Tuesday unveiled its next generation of iPad Pros and Airs — models that will boast faster processors, new sizes and a new display system as part of the company’s first update

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Summer Gasoline Prices Seen Holding Steady in Relief for Drivers

Summer Gasoline Prices Seen Holding Steady in Relief for Drivers

American drivers may pay about the same prices at the pump this summer, providing a boon for the Biden administration’s efforts to tame inflation. Author of the article: Bloomberg News Lucia Kassai Published May 07, 2024  •  1 minute read People pump gas in Austin, Texas. Photo by Brandon Bell /Photographer: Brandon Bell/Getty (Bloomberg) —

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MEG Energy says Trans Mountain expansion will boost Canadian oil prices ‘for years’

MEG Energy says Trans Mountain expansion will boost Canadian oil prices ‘for years’

CALGARY – The recently completed Trans Mountain pipeline expansion will boost Canadian oil prices for “years” to come, an executive with oilsands producer MEG Energy Corp. said Tuesday. “It is great for industry and Canada to have that tremendous asset available,” said MEG’s vice-president of marketing Erik Alson during a conference call with analysts to

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Large Crude Inventory Build Rocks Oil Prices

Large Crude Inventory Build Rocks Oil Prices

Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory increase of 7.3 million barrels for the week to April 26. This compared with a substantial draw of 6.4 million barrels for the previous week that pushed prices temporarily higher last week. In gasoline, the authority reported an inventory rise of 300,000 barrels for

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High Oil Prices Force Biden Admin to Halt SPR Refill Plans

High Oil Prices Force Biden Admin to Halt SPR Refill Plans

By Robert Rapier – May 03, 2024, 4:00 PM CDT DOE cites rising oil prices as the reason for canceling the solicitations for oil deliveries to the Bayou Choctaw SPR site. Biden administration’s decision comes amidst concerns over market conditions and global production cuts impacting oil prices. The cancellation raises questions about the U.S. energy

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