Monday, September 17, 2018

U.S crude oil prices

U.S crude oil prices rebounded on Friday, after a sharp drop on the prior day. Investors have reacted positively to the overall landscape of shrinking crude exports from Iran, strong global demand, and low U.S. inventories.  U.S. crude oil futures (/CL) rose 0.6% on Friday to $68.99,  and posted a 2% gain for the week.  Last Wednesday, the Energy Information Administration (EIA) reported that U.S. crude oil inventories dropped by 5.3 million barrels the prior week to their lowest level since 2015.

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