FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus Mordant
Brent crude oil futures for May rose 40 cents, or 0.6%, to $68.30 a barrel by 0105 GMT, while U.S. West Texas Intermediate crude for April was up 48 cents, or 0.7%, at $64.92. “Given the powerful signals from the U.S. re-opening narrative, it still suggests that the path of least resistance for oil prices is higher.”
Crude inventories, however, rose by 13.8 million barrels in the week to March 5 to 498.4 million barrels, compared with analysts’ expectations in a Reuters poll for an 816,000-barrel rise, as the nation’s oil industry continued to feel the effects of a winter storm mid-February that stalled refining and forced production shut-ins in Texas.
Poor wording again People will read it as stocks of fuel companies are lower despite oil prices rising. Your 'journalists' need to stop clickbait style headlines that are confusing.
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Wait till gas prices suck away that $1400 some people will get. Wish we had away to lower gas prices, I mean, there’s got to be major pipeline projects or such, if only we had something like that. I can’t put my finger on it, but I thought we had some...can’t remember
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