Oil steadied near the psychological $80-a-barrel mark as a global power crunch rattled the market while OPEC+ output has been slow to ramp up.
West Texas Intermediate futures climbed 0.7% in New York after topping the key price level on Friday for the first time since November 2014. From Asia to Europe, the prices of heating fuels such as coal and natural gas are surging as stockpiles run low ahead of the winter season, prompting a switch to products such as diesel and kerosene.
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October 11, 2021 at 05:56AM
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Latest Oil Market News and Analysis for Oct. 11 - Bloomberg
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