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Record US crude stockpile as refining plummets
NEW YORK: US crude oil stockpiles surged by a record of more than 21 million barrels last week as refining plunged to an all-time low due to the Texas freeze that knocked out power for millions.
Oil price gains as US fuel stocks drop, OPEC+ considers deal rollover
NEW YORK: Oil prices rose more than 2% on Wednesday, boosted by a huge drop in U.S. fuel inventories and expectations that OPEC+ producers might decide against increasing output when they meet this week.
Oil price falls to 2-week lows as OPEC+ seen easing supply curbs
NEW YORK:Oil prices fell to their lowest in two weeks on Tuesday on expectations OPEC+ producers will ease supply curbs at their meeting later this week as economies start to recover from the coronavirus crisis
Oil price settles mixed amid post-storm uncertainty
NEW YORK: Oil prices settled near year-long highs on Tuesday on signs that global coronavirus restrictions were being eased, although concerns about the pace of a U.S. economic recovery and the return of Texas oil production kept gains in check.
Iran's rulers close ranks, raise pressure on Biden to lift sanctions
DUBAI (Reuters) - An Iranian state newspaper, taking aim at hardline lawmakers' intervention in Tehran's nuclear row with the West, warned on Tuesday that overly radical actions may lead to Iran's isolation after a new law ended snap inspections by U.N. inspectors.
Crude to rally sooner, higher than expected
Consumption seen returning to pre-Covid levels by July
Oil prices jump more than US$1 as US output struggles to fully restart
SINGAPORE, Feb 23 (Reuters) - Oil prices jumped by more than US$1 on Tuesday, underpinned by optimism over Covid-19 vaccine rollouts and lower output as US supplies were slow to return after a deep freeze in Texas shut in crude production last week.
Brent oil may hit US$75 as supply response trails demand
NEW YORK: Oil prices will rally sooner and higher than previously thought as the global energy demand recovery outpaces the supply response from the Opec+ alliance, shale and Iran, according to Goldman Sachs Group Inc.
Oil extends losses as Texas prepares to ramp up output after freeze
NEW YORK: Oil prices fell for a second day on Friday, retreating further from recent highs, as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather and power outages.
Oil price falls after surging past $65 on Texas freeze
NEW YORK: Oil prices fell on Thursday despite a sharp drop in U.S. crude inventories, as market participants took profits following days of buying spurred by a cold snap in the largest U.S. energy-producing state.
