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Crude Oil Rebounds Ahead of Key OPEC and IEA Reports
Key Takeaways: *Crude oil rebounds from two-week lows amid bargain buying ahead of OPEC and IEA reports. *U.S. sanctions on Russian oil and potential end of the government shutdown support near-term oil prices. *The market remains cautious amid ongoing concerns of global supply glut and rising inventories. Market Summary: Crude oil prices rebounded modestly, supported by bargain buying as traders positioned ahead of several key reports due later…
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The International Energy Agency reported that the growth of global demand for crude oil doubled in the third quarter thanks to strong consumption in China. It also revised upwards its forecasts for 2025 and 2026, both in demand and in global supply.
Crude Oil Rebounds Ahead of Key OPEC and IEA Reports
Key Takeaways: *Crude oil rebounds from two-week lows amid bargain buying ahead of OPEC and IEA reports. *U.S. sanctions on Russian oil and potential end of the government shutdown support near-term oil prices. *The market remains cautious amid ongoing concerns of global supply glut and rising inventories. Market Summary: Crude oil prices rebounded modestly, supported by bargain buying as traders positioned ahead of several key reports due later…
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