
Oil Prices Climb as US Stockpiles Shrink and OPEC+ Holds Firm
Oil prices rose over 1.4% as a significant drop in crude inventories at the key Cushing, Oklahoma hub signaled a tightening U.S. physical market.
#Oil Prices#Commodities#OPEC
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Oil prices rose over 1.4% as a significant drop in crude inventories at the key Cushing, Oklahoma hub signaled a tightening U.S. physical market.

U.S. crude oil inventories fell by 600,000 barrels, a modest decline after the prior week's large draw, bringing stockpiles 4% below the seasonal average.

U.S. energy giants ExxonMobil and Chevron are aggressively expanding into liquefied natural gas (LNG) trading, aiming to compete with European leaders like Shell.