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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 rises to the top with tight supplies and recovery after the pandemic

    Rocky
    Rocky
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    Oil rises to the top with tight supplies and recovery after the pandemic Empty Oil rises to the top with tight supplies and recovery after the pandemic

    Post by Rocky Tue 01 Feb 2022, 6:21 am

    Oil rises to the top with tight supplies and recovery after the pandemic

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    Oil prices rose on Tuesday, trading near seven-year highs last week, as investors bet supplies will remain tight, with a limited increase in production by major oil producers and a strong post-pandemic recovery in fuel demand.
    Brent crude for April delivery rose 1.18, or 1.31 percent, to $91.21 a barrel at 04:52 GMT.
    US West Texas Intermediate crude rose 32 cents, or 0.36%, to $88.48 a barrel, after rising 1.5% the previous day.
    The two benchmarks reached their highest levels since October 2014 on Friday at $91.70 and $88.84, respectively. They posted a gain of about 17% in January, the largest monthly gain since February 2021, amid supply shortages and geopolitical tensions in Eastern Europe and the Middle East.
    Market analysts widely expect OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, to maintain a policy of gradual increases in production when it meets on Wednesday. 
    Tensions between Russia and the West have boosted crude oil prices as Russia has stirred up a row with the West over Ukraine, raising fears that energy supplies to Europe could be disrupted.
    The risk of geopolitical disruptions in oil supplies at a time when stocks were already tight due to the strong post-pandemic recovery has pushed up the premium charged by barrels for immediate delivery, suggesting that the current price rally should continue.
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