Crude Oil Extends Rally as WTI Tops $75 on Global Energy Crunch - Bloomberg

Oil surged at the start of the week’s trading on signs that the crude market is tightening because of a global energy crunch.

West Texas Intermediate topped $75 a barrel after a run of five weekly gains, while Brent hit the highest level since October 2018. Inventories have been drawing, with U.S. stockpiles near a three-year low. At the same time, a rally in natural gas looks set to drive demand for oil as users switch fuels.

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September 27, 2021 at 05:30AM
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Crude Oil Extends Rally as WTI Tops $75 on Global Energy Crunch - Bloomberg
"oil" - Google News
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