20 Feb 2023
International benchmarks for crude oil plunged more than $2/barrel on Friday, 17 February 2023 as traders withdrew to the sidelines to let the latest US inventory reports sink in.
The 2301 for May 2023 delivery contract on Dalian Commodity Exchange on 20 February 2023 settled as follows:
17 Feb 2023
Oil stocks in the US, excluding those in the Strategic Petroleum Reserve, rose 16.3 million barrels last week to the highest levels since June 2021.
The 2301 for May 2023 delivery contract on Dalian Commodity Exchange on 17 February 2023 settled as follows:
16 Feb 2023
While having concerns over the state of demand, investors also blamed a data adjustment on the gigantic figures. The reductions, however, were capped by bullish expectations that global oil demand would return to the growth trajectory
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