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Oil prices rise as investors await latest U.S. supply report

Oil prices edged higher on Wednesday as investors awaited the latest US supply report for clues about demand in the world’s biggest crude consumer. The US benchmark, West Texas Intermediate for delivery in July, gained 63 cents to $103.29 a barrel. Brent North Sea crude for July climbed 57 cents…

Global oil prices rise as U.S. cold snap boosts demand

Global oil prices rebounded on Tuesday as a cold snap in the United States boosted demand for heating fuel, analysts said. New York’s main contract West Texas Intermediate for February delivery rose 37 cents to $93.80 a barrel. Brent North crude gained also 37 cents to stand at $107.10 in…

OPEC president is a pastafarian

Hard to know how else to explain this claim: Khelil said the weak dollar and geopolitical worries are responsible for 60% of the rise in crude prices, but also said that “the intrusion of bioethanol on the market” was alone responsible for the other 40%. He didn’t explain why more…

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