Category: Commodities
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France, Germany and Spain’s Feud Over Nuclear Energy Intensifies
Europe Facing a New Dispute Over Nuclear Energy The relationship between France, Germany, and Spain is facing a new challenge as they dispute over nuclear energy. Paris is reportedly upset due to the lack of support from Berlin and Madrid in labelling nuclear-derived hydrogen as “green” in EU legislation. This disagreement could obstruct the construction […]
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Oil Prices Soar Despite Surging Inventories of Gasoline and Distillates
Gasoline, Distillate Stockpiles Up Despite Unusually Warm Winter The Energy Information Administration (EIA) has reported a buildup in gasoline and distillate inventories in its Weekly Petroleum Status Report for the week ended February 1. Despite the warm winter weather, which should have theoretically resulted in higher gasoline demand, the rise in stockpiles raises questions about […]
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Explosions on Nord Stream Pipelines Spark Controversy as US Denies Involvement
The White House denies US involvement in the explosions at the Nord Stream pipeline. Recent claims that the US was responsible for the explosions of the Nord Stream gas pipelines in the Baltic Sea have been vigorously refuted by the White House. Seymour Hersh, a US investigative journalist, said in a blog post that President […]
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Record-Breaking Stockpiles: Crude Oil Reaches 20-Month High with Continued Weekly Increase
Stockpiles Reach 20-Month High After Seven Straight Weeks of Rise According to the Energy Information Administration’s Weekly Petroleum Status Report, stockpiles rose for a seventh consecutive week and reached their highest level in 20 months. The report stated that stockpiles increased by 2.423 million barrels during the week ending February 1st. Industry Forecast Met with […]
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Oil prices soar for the third day in a row as concerns ease and inventories drop
Oil Prices Increase for the Third Day in a Row On Wednesday, the price of oil increased for a third day in a row. This can be linked to the ease with which market worries about interest rate increases in the US and a report suggesting a drop in inventory have been expressed. The Federal […]
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Oil Prices Remain Steady as Investors Await Inventory Data and Dollar Movements
Oil Prices Stay Stable Despite Weak Movements Oil prices held steady on Wednesday despite a weaker US dollar as investors awaited additional inventory data to assess demand patterns. Following a 4.1% advance in the previous session, the West Texas Intermediate (WTI) crude futures for the United States increased by 15 cents to $77.29. Oil Maintains […]
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Oil Prices Dip Following Mixed Signals on U.S. Inventories and Supply Disruptions
After Tuesday’s rally, oil prices decline Following a large increase in the previous session, oil prices fell on Wednesday as investors paused to assess conflicting information on U.S. crude stocks and awaited further details about the supply disruptions brought on by the earthquake in Turkey. Stock Build Prediction Later in the day, a similar pattern […]
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Oil Inventory Plunge: 2 Million Barrels Down, But Fuel Stocks Soar
Stockpiles of Crude Oil Fall as Fuel Products See Builds The American Petroleum Institute (API) reported a decrease of 2.184 million barrels in stockpiles of crude oil during the week ending on February 1st. However, there was an increase of 178,000 barrels at the delivery point of Cushing, Oklahoma. Rise in Gasoline and Distillate Stocks […]
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Oil Prices Soar to One-Week High Amid China’s Revival and Middle East Supply Concerns
Oil Futures Achieve New Levels Tuesday saw a substantial spike in oil futures, which ended the day at their highest level in a week as a result of rising expectations for a pickup in China’s crude consumption and worries over Middle Eastern supplies. This came after severe earthquakes in Turkey and Syria caused the Turkish […]