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Crude oil settles at $70.10 ...Middle East
The price of crude oil is settling up $1.35 or 1.96% and $70.10. The high price today reached $70.38 while the low price was at $68.86.Geopolitical Tensions:Russia and Ukraine war remains a geopolitical risk for oil traders. Russia allegedly launched an intercontinental missile at Ukraine's Dnipro following Ukraine's first attack on Russian territory using foreign-supplied missiles.Heightened geopolitical risks are adding a premium to oil prices.Supply and Demand Outlook:Rising U.S. oil inventories, weak Chinese demand, and higher Western Hemisphere production are expected to push supply above demand by 2025.OPEC+ may delay unwinding 2.2 million bpd voluntary supply cuts, originally schedul
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