NYSEARCA:OIH

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At Close: Jun 03, 2026
Oil futures settled higher for a third session in a row on Wednesday. The Energy Information Administration reported weekly increases in U.S. crude, gasoline and distillate supplies.
Oil markets continued to rebound after the release of the EIA report.
"Oil prices never went up and copper prices are falling after the initial China reopening excitement fades. Global recession is coming," economist Robin Brooks said.
The price of oil was volatile after the release of the EIA report, but there were no major moves.
Crude oil markets have rallied again during the trading session on Wednesday as we are approaching the crucial midpoint of the overall consolidation range.

Oil rises for third day as rate worries fade

07:42am, Wednesday, 08'th Feb 2023
Oil futures were on track for a third straight gain Wednesday, finding support as worries about rising interest rates appeared to fade and industry data showed a decline in U.S. crude inventories.
Crude prices continued to advance after jumping on Tuesday.
Crude oil traders will be eyeing the U.S. Dollar and the EIA inventories report for direction on Wednesday.
It was a mixed morning session. While the Hang Seng and ASX 200 benefitted from Powell's speech, corporate earnings weighed on the Nikkei 225.
U.S. oil futures finished at their highest in a week on bets for strength in energy demand from China and oil-supply concerns in the Middle East following a massive earthquake on Monday. U.S. benchmar
The oil terminal in Turkey remains closed after the strong earthquake.
Crude oil markets did rally a bit during the trading session on Tuesday, but they continue to trade in a range overall.

Oil futures get lift on China demand hopes

07:25am, Tuesday, 07'th Feb 2023
Oil futures rose Tuesday, finding support as ongoing hopes a revival in crude demand from China run strong.
The Ceyhan oil-export terminal has been temporarily closed after a powerful earthquake struck Turkey and northern Syria.
Oil futures settled higher on Monday, logging a partial rebound from last week's steep losses. Saudi Arabia unexpectedly lifted most prices for oil that will be shipped to Asia in March, Bloomberg
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