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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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Oil prices are falling

rocky
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Oil prices are falling Empty Oil prices are falling

Post by rocky Fri 21 Jan 2022, 6:51 am

[size=35][size=35]Oil prices are falling[/size]
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Economie

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2022-01-21 | 01:26
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Oil prices fell on Friday, after rising to a seven-year high this week, as an increase in US crude and fuel inventories prompted investors to cash in on the rally.


Brent crude futures fell $2.46, or 2.8 percent, to $85.92 a barrel by 0136 GMT.
Contracts had earlier fallen 3 percent, the biggest decline since Dec. 20.






 
The global benchmark touched $89.50 a barrel on Thursday, the highest level since October 2014.
 
US West Texas Intermediate crude futures fell $2.61, or 3.1 percent, to $82.94 a barrel.
 
US crude futures fell earlier 3.2 percent, also the biggest decline since December 20, after rising to their highest level since October 2014 on Wednesday.
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The recent increase in crude prices seems to have lost momentum, on Thursday, when Brent and US crude ended the trading session with modest losses.
 
The benchmark has risen more than 10 percent since the beginning of the year amid fears of tight supplies.
 
Gasoline stocks rose in the United States, the world's largest oil consumer, by 5.9 million barrels, reaching the highest level since February 2021, according to [url=https://www.alsumaria.tv/Entity/3400938187/%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9 %D9%85%D8%B9%D9%84%D9%88%D9%85%D8%A7%D8%AA %D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9 %D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9/ar/]US Energy Information Administration[/url].
 
And crude oil inventories increased by 515,000 barrels, last week, defying expectations that prevailed in the sector.
 
The administration's data also showed a limited decrease in crude consumption in refineries; This indicates a decline in demand.
 
Concerns about supplies escalated this week; After the Yemeni Houthi militia backed by[You must be registered and logged in to see this link.]The UAE, the third largest producer in the Organization of the Petroleum Exporting Countries, while Russia, the second largest oil producer in the world, amassed forces in large numbers near the border of Ukraine; Which raises fears of a possible invasion.
 
However, the International Energy Agency said, last Wednesday, that oil supply is expected to exceed demand soon, as it is expected that some producers will pump crude at or above all-time highs, while demand will hold despite the spread of the mutant Omicron from the Corona virus.


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