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Oil Prices Fall After API Reports Large Surprise Builds in Crude And Products

Oil Prices Fall After API Reports Large Surprise Builds in Crude And Products

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Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info By Julianne Geiger – Jun 04, 2024, 3:47 PM CDT Crude oil inventories in the United States rose this week by 4.052 million barrels for the week ending May 24, according […]

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Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump

Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump

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WASHINGTON (AP) — The Biden administration said Tuesday it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer. The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a

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Finance Bill 2024 Proposes 80% Increase in Cooking Oil Prices, Manufacturers Lament

Finance Bill 2024 Proposes 80% Increase in Cooking Oil Prices, Manufacturers Lament

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The Edible Oil Manufacturers Association of Kenya has opposed the new proposed tax measures contained in the 2024 Finance Bill, arguing they will have to increase cooking oil prices by 80 percent. The Bill seeks to impose a 25 percent excise duty on vegetable oils, which the association describes as a “potential humanitarian crisis that

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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

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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

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

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