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 story : Oil futures settle sharply higher amid tight supplies at the U.S. storage hub #FinanceUSA #StockMarketNEWS Oil futures rallied Wednesday, with U.S. prices recouping much of their recent losses to

@stockMarketNEWS 7 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Oil futures settle sharply higher amid tight supplies at the U.S. storage hub #FinanceUSA #StockMarketNEWS
Oil futures rallied Wednesday, with U.S. prices recouping much of their recent losses to finish back above the -a-barrel mark. Prices have rebounded after suffering a steep drop on Monday of more than 7%, the biggest daily decline of the year as the spread of the delta variant of the coronavirus threatened the outlook for oil demand. The Energy Information Administration on Wednesday reported an unexpected weekly rise in U.S. crude supplies, but also revealed that stocks at the Cushing, Okla., storage hub fell to their lowest since January 2020. West Texas Intermediate oil for September delivery climbed by .10, or 4.6%, to settle at .30 a barrel on the New York Mercantile Exchange.


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