WTI
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Oil edges higher on lower U.S. crude stocks, cautious outlook
Oil prices crept higher on Thursday as a lower-than-expected drop in U.S. crude inventories and a weaker demand outlook kept investors cautious.
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Oil prices sink as economic concerns continue to dominate markets
Crude oil started trade this week with a decline, based on Asian trade data from earlier in the day, as traders’ worry about the state of the global economy trumped any expectations of tight supply.
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Oil extends losses ahead of expected interest rate hikes
Oil prices fell 4% on Wednesday, extending steep losses from the previous session, as investors fretted about the health of the U.S. economy ahead of an expected Federal Reserve interest rate hike later in the day.
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WTI: What Negative Price Meant
TEHRAN (Shana) -- On 20 April 2020, West Texas Intermediate (WTI) futures experienced unprecedented developments. WTI contract prices for delivery in May dropped to below zero. One may ask it would be the same for June. In this specific period, negative prices were driven by an unusual circumstance due to an expiring futures contract. However, unless the oil demand situation changes quickly, the US could face single digit or even negative oil prices throughout the summer.