Brent crude articles
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Dangote refinery ramps up production with US crude – Report
The 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper oil imports from the United States for as much as a third of its feedstock as it starts up production. A report by Bloomberg on Thursday stated that the plant has been shipping products in recent weeks while readying two units to Read More
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WTI Extends Losses After API Reports Unexpected Crude Build
WTI Extends Losses After API Reports Unexpected Crude Build WTI ended April on a down-note (closing lower on the month, as opposed to Brent which saw its fourth straight monthly gain) as hopes for cease-fire talks between Israel and Hamas dampened fears of a wider conflict that could threaten crude supplies. The recent declines come as a "relief to both central bankers and consumers alike," Stephen Innes, managing partner at SPI Asset Management, told MarketWatch. There's been a...
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WTI Holds Gains After API Reports Unexpected Crude Inventory Draw
WTI Holds Gains After API Reports Unexpected Crude Inventory Draw Oil priced ended notably higher today after recovering strongly from overnight weakness (driven by a Bloomberg report that said fresh U.S. sanctions targeting vessels and refineries handling Iranian oil shipments were having a muted impact on crude supply). If implemented and enforced, the new sanctions could add as much as $8.40 to global prices, according to ClearView Energy Partners, a Washington-based consulting...