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MarketWatch 05/29/2020 15:05
U.S. oil futures reversed course to finish higher Friday, getting a boost as traders eye developments tied to Hong Kong related tensions between the U.S. and China, and as another drop in U.S. oil rigs suggested further domestic production declines. U.S. prices ended the month with a gain of 88%, based on the front months, to mark the best monthly performance on record, according to Dow Jones Market Data. "Prices normalized from the extreme pressure in April as markets dealt with a lack of domestic storage capacity," Rob Haworth, senior investment strategist at U.S. Bank Wealth Management, told MarketWatch. "As we moved through May, prices expressed relief as production slipped and storage capacity increased." July West Texas Intermediate o.
MarketWatch 05/28/2020 11:13
Oil futures remained lower Thursday after government data showed an unexpected rise in U.S. crude inventories. The Energy Information Administration said inventories rose 7.9 million barrels in the week ended May 22. Oil had been under pressure after the American Petroleum Institute late Wednesday reported that crude inventories rose 8.7 million barrels last week, according to sources. Analysts surveyed by S&P Global Platts had expected the more closely followed EIA report to show crude inventories fell by 1.2 million barrels. EIA said gasoline stocks fell 700,000 barrels, while distillates were up 5.5 million barrels. The S&P Global Platts analysts had forecast a supply decline of 1 million barrels for gasoline and a stockpile increase of

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