Oil pared its weekly loss as Saudi Arabia cranked up prices for its global crude exports and the U.S. demurred on a potential release of oil from the strategic reserve.
Crude in New York shaved its weekly loss to 2.8%, rising sharply late in the session Friday after Saudi Arabia raised the official selling price of all the nation’s crudes to buyers around the globe. The Kingdom boosted its prices just days after refusing to concede to U.S. pressure to pump more oil. With the cartel unanimously agreeing to stick to its plans, attention now turns to whether U.S. President Joe Biden will respond.
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November 05, 2021 at 05:15AM
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Oil Prices for Nov. 05, 2021: Brent Crude, WTI - Bloomberg
"oil" - Google News
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