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Copper Rallies, Crude Oil Remains Below $80

12:13pm, Wednesday, 22'nd May 2024
Futures are lower after new record highs on Tuesday. Jake Hanley discusses this and explains the copper rally.
Gasoline inventories declined by 0.9 million barrels.
The crude oil market has fallen a bit in the overnight trading session, as the crude oil build was higher than expected in the United States.
U.S. crude oil and global benchmark Brent are down more than 2% for the week.
Easing inflation, potential early Fed rate cut, and rising fuel demand create a cautiously bullish short-term outlook for crude oil prices.
Oil markets are moving higher as traders bet that China's demand would grow.
U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
Crude oil markets have consolidated a bit during the course of the trading week, but it does look like we have plenty of support underneath. Because of this, I think we are trying to build some type o
Cloud cover and rain showers over the next few days are set to help crews battling a large wildfire near the Canadian oil sands city of Fort McMurray, Alberta, local authorities said on Friday.
The oil markets are essentially sitting still at the moment, frustrating traders on both sides of the trade. Ultimately, this is a market that will have to continue to work out momentum.
Oil futures headed for modest weekly gains on Friday early morning as economic data from the U.S. and China raised hopes for stronger crude demand.
Russia could deliver oil as well as gas to China along a planned route via Mongolia, President Vladimir Putin said on Friday.
Improving U.S. and China demand, inventory declines, and potential monetary easing suggest a bullish short-term outlook for crude oil prices.
FORT MCMURRAY, Alberta (AP) — A wildfire that has forced thousands of people out of their homes in Canada's oil sands hub city of Fort McMurray was held in place Thursday, as rain and cooler tempera
WTI and Brent oil prices see a 0.10% rise amid shrinking U.S. inventories and Chinese economic stimulus, suggesting more upside potential.
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