Oil prices
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Crude oil prices slumped to their lowest level this year amid concerns of weakening demands after China announced a retaliatory tariff on US crude oil imports, while the US stockpiles rose for the second consecutive week. Crude oil prices fell to their lowest level since 31 December 2024 amid the escalating US-China trade war. Investors…
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The oil market plunged back in April due to numerous restrictive measures and lockdowns, which halted many industries across the world, significantly lowering demand for fuel. Oil giant Exxon Mobil on Friday reported a loss of $610 million in the first quarter, compared to $2.35 billion in profits over the same period last year. The…
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Energy stocks drove Wall Street higher on Wednesday in the aftermath of a rise in oil prices and OPEC production cuts. ‘The market is consolidating. To see what our next driver is, were going to watch to see if the cuts are working, if the members that agreed to them are adhering to them,’…
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