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-0.000698656673758997 -0.00120677061831114 -0.000825685159897078 0.00047635682301767 0.00222299850741543 0.00244529835815694 -0.000952713646034979 0.00400139731334767
Stock impact report

Oil prices fall to four-year low below $55 as supply glut shows up [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
Futures on international pricing benchmark Brent crude ( BZ=F ) fell by more than 2.8% to trade below $58.86 on Tuesday morning, while futures on US benchmark West Texas Intermediate (WTI) crude ( CL=F ) temporarily fell by a deeper 3.1% to trade below $55. Both energy products reached levels Tuesday morning that had not been seen since February 2021 as analysts pointed to an outlook marked by "extraordinary oversupply." Both Brent and WTI crude are headed for yearly losses of more than 20% as the market has been flooded with supply The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have been unwinding cuts at a significant rate, increasing the amount of barrels added to the market each month, while other supplier countries outside of the Americas have been raising their levels. Between April and December, OPEC+ member countries increased production by 2.9 million barrels per day as Saudi Arabia sought to retake market share and price control from th Show less Read more
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