Oil Prices Hit Hard By Lower Refinery Runs

Source: OilPrice.com
Date: 3th September 2020

Oil prices took a tumble on Wednesday post-EIA report, despite a favorable crude inventory report that showed oil inventories in the United States had shrunk by nearly ten million barrels. The downward price movement is due to lower refinery throughputs in preparation for refinery maintenance season.

Brent futures settled at .43 a barrel, while U.S. West Texas Intermediate (WTI) crude, settled at .58.

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