US oil jumps 2.7% to $59.38 per barrel after massive supply drop [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
US oil jumps 2.7% to $59.38 per barrel after massive supply drop Oil platform, Lake Charles, Louisiana. Jess McGlothlin / Aurora Photos | Aurora Open | Getty Images Oil prices soared on Wednesday as traders cheered a massive drop in U.S. supply while tensions with Iran heightened after President Donald Trump imposed new sanctions U.S. West Texas Intermediate crude futures Brent crude futures The Information Administration said Wednesday that U.S. crude inventories fell by 12.8 million barrels last week. Crude hit its session high after the data was released. Last week was the biggest draw down since September of 2016, when inventories fell 14.5 million barrels. "That was one of the most bullish reports ever," said John Kilduff of Again Capital. "Domestic production ticked down, gasoline demand was strong, exports plunged, refinery utilization rose, it just had everything going for it." "Whatever we're not using here, we're just exporting," said Andy Lipow of Lipow Oil Associate. "As
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- 4/15/24 - Form 8-K
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