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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.