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Oil prices gain as U.S. crude supplies rise, but product stocks drop


Oil ends higher in choppy session as traders weigh crude inventory rise versus product draw
MarketWatch
3/10/2021
FUTURES MOVERS
Oil futures finished a choppy trading session in positive territory Wednesday, after seesawing between gains and losses following data that showed a large rise in U.S. crude inventories and a large drop in stocks of petroleum products.
Remarks by Russia’s deputy prime minister, Alexander Novak, highlighting worries about producers outside of OPEC+ raising output and stealing market share also contributed to a temporary turn lower, analysts said.
West Texas Intermediate crude for April delivery rose 43 cents, or 0.7%, to close at $64.44 a barrel on the New York Mercantile Exchange. May Brent crude the global benchmark, gained 38 cents, or 0.6%, to finish at $67.90 a barrel on ICE Futures Europe. ....

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Oil prices stay on track to settle at 1-year high after modest weekly decline in U.S. crude inventories


Oil finishes at 1-year high after modest weekly decline in U.S. crude inventories
MarketWatch
2/3/2021
FUTURES MOVERS
An earlier version of this story misstated the year the EIA expects total U.S. energy consumption to return to 2019 levels. The EIA expects a return by 2029.
Oil futures climbed on Wednesday to end at another one-year high, finding support from expectations that economic stimulus measures will boost energy demand and a modest weekly decline in U.S. crude inventories.
The Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, held a monthly committee meeting Wednesday, but did not make changes to output policy. ....

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