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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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Oil is going down

rocky
rocky
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Posts : 205333
Join date : 2012-12-21

Oil is going down Empty Oil is going down

Post by rocky Thu Oct 21, 2021 8:02 am

Oil is going down

  •  Time: 10/21/2021 09:07:50
     
  •  Reading: 1,092 times

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{Economic: Al Furat News} Oil prices fell, Thursday, to pare previous gains, as some investors took profits from the recent rally, while strong demand in the United States and a switch to oil fuels from coal and gas amid rising prices supported market sentiment.
Brent crude futures were down 19 cents, or 0.22%, at $85.63 a barrel at 2555 GMT, reversing earlier gains that took the benchmark to its highest since October 2018, and rose 0.9% the previous day.
US West Texas Intermediate crude futures for December were down 5 cents, or 0.03%, to $83.39 a barrel.
Crude oil prices rose as supply tightened, with the Organization of the Petroleum Exporting Countries (OPEC) maintaining a slow increase in supply rather than stepping in to add more barrels to the market.
Oil markets hit multi-year highs earlier in the week also supported by the global coal and gas crisis, which led to a shift to diesel and fuel oil for power generation.
The US Energy Information Administration said on Wednesday that US crude stocks fell 431,000 barrels in the week ending October 15 to 426.5 million barrels.
The Energy Information Administration stated that US gasoline stocks (USOILG = ECI) fell 5.4 million barrels to 217.7 million barrels, the lowest level since November 2019, while distillate stocks fell to levels not seen since April 2020.
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