oil prices
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U.S. House Passes Bill to Expand Sanctions on Iranian Oil Despite Falling Oil Prices
The Hill reported that the U.S. House of Representatives passed a bill with a vote of 342 to 69 aimed at imposing penalties on entities involved in the Iranian oil trade. 
The Hill reported that the U.S. House of Representatives passed a bill with a vote of 342 to 69 aimed at imposing penalties on entities involved in the Iranian oil trade. -
U.S. Takes the Lead in Global Oil Supply Growth with Record Production
Shale Oil Boom Drives Record U.S. Production On Tuesday, the U.S. Energy Information Administration's monthly report revealed that U.S. crude oil production hit a historic high in August, reaching 13.05 million barrels per day, with a total production of 404.6 million barrels. This surpasses the previous record set in July at 401.73 million barrels. 
Shale Oil Boom Drives Record U.S. Production On Tuesday, the U.S. Energy Information Administration's monthly report revealed that U.S. crude oil production hit a historic high in August, reaching 13.05 million barrels per day, with a total production of 404.6 million barrels. This surpasses the previous record set in July at 401.73 million barrels. -
Oil Prices Surge Amidst Israel-Hamas Conflict: Global Markets on Edge
In a dramatic turn of events, oil prices have witnessed a significant surge as the conflict between Israel and Hamas intensifies, sending shockwaves through global markets. The ongoing military confrontations and political uncertainties in the Middle East have led to heightened concerns among investors and traders, resulting in volatile oil prices. 
In a dramatic turn of events, oil prices have witnessed a significant surge as the conflict between Israel and Hamas intensifies, sending shockwaves through global markets. The ongoing military confrontations and political uncertainties in the Middle East have led to heightened concerns among investors and traders, resulting in volatile oil prices. -
Saudi's Oil Play: Boosting Production for U.S.-Saudi Defense Pact?
Oil prices took a significant hit this week, plummeting nearly 9%-the worst weekly performance in six months. Is Saudi Arabia the main culprit behind this decline? 
Oil prices took a significant hit this week, plummeting nearly 9%-the worst weekly performance in six months. Is Saudi Arabia the main culprit behind this decline? -
Oil Prices Plunge Over 5% to a Five-Week Low: What's Behind the Drop?
The U.S. Energy Information Administration (EIA) released its weekly inventory report on Wednesday, revealing a larger-than-expected decline in U.S. crude oil stockpiles, the lowest since December 2022. However, the average gasoline demand over the past four weeks hit its lowest seasonal level since 1998. As a result, oil prices plummeted by $5, marking their largest drop in over a year and a five-week low. This weak demand also pushed U.S. gasoline prices down by 6%, reaching a five-month low. 
The U.S. Energy Information Administration (EIA) released its weekly inventory report on Wednesday, revealing a larger-than-expected decline in U.S. crude oil stockpiles, the lowest since December 2022. However, the average gasoline demand over the past four weeks hit its lowest seasonal level since 1998. As a result, oil prices plummeted by $5, marking their largest drop in over a year and a five-week low. This weak demand also pushed U.S. gasoline prices down by 6%, reaching a five-month low. -
Saudi Arabia and Russia Extend Production Cuts, Boosting Oil Prices Amid U.S. Inventory Concerns
In a move that has heightened inflationary concerns in the West, Russia and Saudi Arabia, two major oil-producing nations, have continued their voluntary production cuts this month. This decision comes after Brent crude surpassed the $90 per barrel mark in September, signaling that the tightening supply situation is set to persist, adding more variables to the inflationary pressures faced by Europe and the U.S. In a move that has heightened inflationary concerns in the West, Russia and Saudi Arabia, two major oil-producing nations, have continued their voluntary production cuts this month. This decision comes after Brent crude surpassed the $90 per barrel mark in September, signaling that the tightening supply situation is set to persist, adding more variables to the inflationary pressures faced by Europe and the U.S. -
Global Oil Premiums Skyrocket: U.S. Reserves Dwindle, Europe Faces Shortage
As global oil prices continue to surge, dwindling U.S. oil reserves are exacerbating an already strained global supply. As global oil prices continue to surge, dwindling U.S. oil reserves are exacerbating an already strained global supply. -
U.S. Oil Prices Surge 3% to Yearly High as Key Cushing Inventory Hits Critical Low
The U.S. Energy Information Administration (EIA) released its weekly inventory report on Wednesday, revealing that last week's U.S. crude oil inventory decline unexpectedly surpassed projections. The primary delivery point in Cushing saw a significant reduction in crude oil inventory, reaching its lowest level since July 2022, a point of keen market interest. This news propelled oil prices, with U.S. crude surging by 3% to break the $93 per barrel mark and Brent crude increasing by 2% to surpass $94 per barrel. 
The U.S. Energy Information Administration (EIA) released its weekly inventory report on Wednesday, revealing that last week's U.S. crude oil inventory decline unexpectedly surpassed projections. The primary delivery point in Cushing saw a significant reduction in crude oil inventory, reaching its lowest level since July 2022, a point of keen market interest. This news propelled oil prices, with U.S. crude surging by 3% to break the $93 per barrel mark and Brent crude increasing by 2% to surpass $94 per barrel. -
U.S. Energy Titans Warn: Oil Could Surge to $150 if Government Doesn't Act
On Monday, executives from major U.S. energy giants, including Western Oil, Chevron, and Continental Resources, voiced their concerns. Despite oil prices nearing $100, many companies have chosen not to increase production, citing inconsistent U.S. energy policies that hinder oil production. Some industry leaders echoed JPMorgan's recent prediction of a supercycle with oil prices reaching $150, stating that if the U.S. government remains inactive, prices could surge to that level. On Monday, executives from major U.S. energy giants, including Western Oil, Chevron, and Continental Resources, voiced their concerns. Despite oil prices nearing $100, many companies have chosen not to increase production, citing inconsistent U.S. energy policies that hinder oil production. Some industry leaders echoed JPMorgan's recent prediction of a supercycle with oil prices reaching $150, stating that if the U.S. government remains inactive, prices could surge to that level. -
Oil Prices Nearing Triple Digits: Goldman Sachs Ups Brent Forecast Amid Robust Global Demand
As oil prices surge, Goldman Sachs, often dubbed the "standard bearer for commodities," has revised its oil price forecast upward. With tightening supply and robust demand, the return of oil prices to triple digits seems imminent. As oil prices surge, Goldman Sachs, often dubbed the "standard bearer for commodities," has revised its oil price forecast upward. With tightening supply and robust demand, the return of oil prices to triple digits seems imminent.
