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International oil futures fell by over 2% intraday on Thursday (December 21, 2023), before mounting a partial recovery, after Angola announced its decision to quit the Organization of the Petroleum Ex

Angola leaving OPEC amid oil production dispute

04:36pm, Thursday, 21'st Dec 2023
Angola is leaving the Saudi-led oil producer group OPEC, saying that the country does not gain anything from its membership. Yahoo Finance's Julie Hyman and Josh Lipton discuss how this news has impac

Oil is indicator of a recession: Strategist

01:45pm, Thursday, 21'st Dec 2023
The stock market went through a bit of a rally in recent weeks, until Wednesday afternoon when the market pulled back. After commentary and data from the Federal Reserve on interest rates, many on Wal
Angola decided that OPEC membership did not serve its interests.
The crude oil markets have been all over the place during early trading on Thursday, as the market continues to sort out positions heading into the holidays.
One of Africa's biggest oil producers is leaving the cartel because it doesn't want to lower output, Reuters reported.

Oil prices threaten to snap 3-day winning streak

06:49am, Thursday, 21'st Dec 2023
Oil futures pulled back early Thursday after a build in U.S. petroleum supplies and record domestic production cooled a rally sparked by disrupted shipments in the Red Sea.
Brent and WTI crude oil fall due to inventory build and high U.S. production; WTI expected to drift between $70-$75 amid cautious sentiment.

Why the U.S. could be a big factor for oil in 2024

03:12pm, Wednesday, 20'th Dec 2023
Geopolitical events and concerns about China's recovery led to a volatile year for oil prices (BZ=F, CL=F) in 2023. Rebecca Babin, CIBC Private Wealth, US Senior Energy Trader joins Yahoo Finance Live
Oil traders take some profits off the table after the strong rebound from December lows.
Brent crude's ascent over $80 a barrel amidst Red Sea skirmishes has led to heightened trade rerouting, affecting global oil and natural gas prices.
Oil futures were on track for a third straight rise Wednesday, with the global benchmark pushing back above $80 a barrel, as traders monitored tensions in the Red Sea that have resulted in disruptions
Brent and WTI crude oil prices stabilized on low holiday volume as the U.S. managed rising inventories and geopolitical tensions in the Red Sea.
Recently, Yemen-based Houthi militants attacked commercial shipping vessels traveling through the Suez Canal and the Red Sea, in response to the ongoing war between Israel and Hamas. Over 10% of world
Global firms suspend Red Sea voyages amid worries about the safety of their vessels.
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