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EIA Inventory Report Pushes Oil Prices Lower

OilPrice.com Thursday, 21 February 2019
The Energy Information Administration reported a crude oil inventory build of 3.7 million barrels for the week to February 15, versus an increase of 3.6 million barrels in the previous week, pushing prices lower. Brent crude and West Texas Intermediate have been trending higher today as news reports strengthen hopes the OPEC cuts will do their job and boost prices. The latest here was a visit by a special Saudi Arabian envoy to Nigeria, which had been straying from the production cut path, instead increasing its crude oil production. After the…
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News video: Oil Prices Drop Dragging On S&P 500

Oil Prices Drop Dragging On S&P 500 00:48

According to Reuters, US stocks are trading slightly lower heading into the week's end. By the afternoon on Feb. 21st, the top three markets on the New York Stock Exchange lost their gains from a day before. The Dow Jones Industrial Average retreated about 64-points, falling to 25,891, while the...

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