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U.S. purchases 2.8 MMbbl to refill depleted Strategic Petroleum Reserve

The announcement Thursday brings the total amount of oil the U.S. has purchased for the inventories since last year to 32.3 MMbbl. The Energy Department has paid an average price of under $77 per bbl, below the average price of $95 it sold for in 2022, the agency said in a statement. 

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US drillers cut oil and gas rigs for second week in a row

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-January, energy services firm Baker Hughes BKR.O said in its closely followed report on Thursday.

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How China ended up financing the Houthis' Red Sea attacks – POLITICO

By purchasing Iranian oil, Beijing is helping disrupt the trade on which its economy depends.

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Oil Prices Gain 2% on Tightening Supply

U.S. benchmark crude gained over $2 on Thursday as U.S. crude inventories tightened and OPEC+ vowed to keep the output cut status quo

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Oil rises more than $1 a barrel on tighter supply outlook

Brent crude futures for May settled at $87.48 a barrel, while U.S. West Texas Intermediate (WTI) crude futures for May delivery settled at $83.17 a barrel

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