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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Falling oil prices

rocky
rocky
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Posts : 205207
Join date : 2012-12-21

Falling oil prices Empty Falling oil prices

Post by rocky Wed 20 Oct 2021, 6:53 am

Falling oil prices

  •  Time: 10/20/2021 08:37:48
     
  •  Reading: 1,014 times

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{Economic: Al Furat News} Oil prices fell today, Wednesday, after the Chinese government announced that it was looking for ways to alleviate the energy shortage.
Oil markets hit multi-year highs earlier in the week on the back of the global coal and gas crisis, which led to a switch to diesel and fuel oil for power generation.
US West Texas Intermediate crude futures fell 44 cents, or 0.53%, to $82.00 a barrel at 05:11 GMT, reversing most of its 52 cents gain from Tuesday.
Brent crude futures were down 41 cents, or 0.48%, at $84.67 a barrel.
The China Electricity Board said late Tuesday that China's National Development and Reform Commission discussed government intervention in coal prices at a meeting of major coal producers.
In a separate statement, the commission said it will ensure coal mines are operating at full capacity and aim to achieve at least 12 million tons per day of production, which will increase by more than 1.6 million tons as of late September.
The market was also pressured by data from the American Petroleum Institute, an industry group, which showed US crude stocks rose by 3.3 million barrels for the week ending October 15, according to market sources.
But US gasoline and distillate stocks, which include diesel, heating oil and jet fuel, fell much more than analysts had expected, indicating higher demand.
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