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U.S. crude oil prices hit their lowest level since February due to concerns over OPEC's decision to unwind production cuts, but the move could assist President Biden's re-election effort.

Crude oil futures hit their lowest levels since February as OPEC+ plans to phase out voluntary cuts, prompting concerns about oil prices and weakening demand growth.

By Anthony Harrup U.S. crude oil inventories are expected to have decreased last week, with refineries raising capacity use for a fourth straight week, according to a survey by The Wall Street...

By Anthony Harrup U.S. crude oil inventories are expected to have declined for a third consecutive week as refineries raised their capacity use, according to a survey by The Wall Street...

Meanwhile, traders scramble to slash their bullish bets.

Meanwhile, the Saudis gamble on the possibility of increased demand.

Crude oil jumps as much as 7% on U.S. ban of Russian imports, but trades off session highs : Rashtra News #Crude #oil #jumps #ban #Russian #imports #trades #session #highs Oil prices jumped to their highs of the session Tuesday as President Joe Biden announced a ban on Russian fossil imports including oil in response

Meanwhile, anticipation regarding the Fed switches from cuts back to hikes.

By Anthony Harrup U.S. crude oil inventories are expected to have decreased for a second consecutive week, along with a draw on gasoline stocks, according to a survey by The Wall Street...

GLOBAL-OIL/ (UPDATE 7):UPDATE 7-Oil falls more than $1/bbl on Middle East peace talks, US rate cut doubts