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Tag: oil prices

China Oil Reserve Release
China Releases Strategic Oil Reserves Following US Invite
Oil prices have soared by over 50 percent in the U.S following the COVID-19 pandemic. Now the Chinese...
Oil-storage tanks are seen from above in Carson, California, April 25, 2020 after the price for crude plunged into negative territory for the first time in history on April 20. Although oil prices have stabilized somewhat since the unprecedented dive, the world remains in the throes of a glut of crude oil caused by a precipitous fall in demand due to the global coronavirus pandemic coupled with a lack of storage capacity for crude already in transit or still being produced.
Oil Prices Soar to Six-Year High Amidst OPEC Plus Infighting, Creating Winners and Losers
Infighting among key players of the Organization of the Petroleum Exporting Countries (OPEC) Plus alliance...
A container ship recently ran aground in the Suez Canal in Egypt, blocking all traffic across the vital trade waterway.
Suez Canal Blockage Might Last for Several Weeks, $400 Million Lost per Hour
A container ship recently ran aground in the Suez Canal in Egypt, blocking all traffic across the vital...