Oil edges higher on supply concerns, China releases 4.43 mln barrels
Oil prices rose on Friday for a fourth straight day due to global supply concerns following powerful storms in the United States, with China's first public sale of state crude reserves causing a momentary blip in the rise.
U.S. oil was up 6 cents, or 0.1%, at $73.36 a barrel, having closed 1.5% in the previous session, the highest since the start of August.Oil companies in the United States have struggled to fully restore deliveries to the eastern seaboard after storms damaged facilities on the Gulf coast.
"A prolonged recovery from Hurricane Ida disruptions and robust demand are eating into oil stockpiles," ANZ Research analysts said in a note. " U.S. oil inventory withdrawals are accelerating."In a sign of strengthening fuel demand, capacity utilization rates at U.S. East Coast refineries increased to 93%, the highest since May 2019, Energy Information Administration (EIA) data showed.
read moreInventories fell to the lowest in almost three years after damage from two hurricanes kept draws elevated in the United States, EIA data earlier in the week showed. EIAS Read more: Reuters Top News »
It can happen here: Expert on tyranny warns of GOP extremism
As the GOP pushes officials who have backed overturning the 2020 presidential election and more election lies, most Republicans now doubt the election results. MSNBC’s Ari Melber is joined by Timothy Snyder, who is an expert on authoritarian politics, to discuss the threat the GOP poses to U.S. democracy.
What if China sells its golds to calm its economic difficulties?
Tribal nations take on oil giant in the battle against the Line 3 pipeline'Water is sacred': An on-scene report from the encampment where Indigenous people are trying to stop construction of Enbridge's tar sands pipeline.
Cold, dry days are ahead — prep your skin with this moisturizing cuticle oilPamper your nails with this $11 cuticle oil — it’s hydrating and smells great. Hot days air conditioning multiple showers 🤷🏼♀️
Oil prices rise on expected U.S. stocks drawOil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves.
Op-Ed: How Congress could curtail the Big Oil gravy trainThe House has included common-sense oil and gas reforms in its version of the 'Build Back Better' Act. The Senate should follow suit. opinion There is no greater joy than having financial stability and a life free of debts, that’s why I keep tweeting about KayleighGlover0 it has been a pleasure collaborating with you...there is no other way I can show my appreciation other than tweeting the good deed you have done.
EXCLUSIVE JPMorgan faces oil bribery probe in BrazilBrazilian authorities are investigating whether JPMorgan Chase & Co played a role in an alleged bribery and money laundering scheme dating back to 2011 and involved state-run oil company Petrobras, according to documents reviewed by Reuters and two law enforcement sources. your thoughts, Jamie? oupsss
U.S. oil refiners pick Iraqi, Canadian crudes to replace storm losses -tradersU.S. oil refiners hunting to replace crude lost after a storm hit the U.S. Gulf of Mexico last month have been turning to Iraqi and Canadian oil, while Asian buyers have been pursuing Middle Eastern and Russian grades, analysts and traders said. nice