Locator: 45953FRACKING.
Focus on fracking, November 5, 2023:
Lede:
- oil prices fall to 9 week low;
- US refinery utilization at a new nine month low
Narrative begins:
US oil prices ended the past week's trading nearly 6% lower at $80.51 a barrel, after hitting a nine week low midweek, falling below pre-war levels as fears of a wide spread conflict in the Middle East that would disrupt global supplies receded....
Other factors contributing to lower oil prices this week were a stronger US dollar, which makes commodities priced in dollars cheaper because it raises prices for those using other currencies, another increase in US commercial crude supplies amid record-high domestic oil production and falling demand for fuel, a Fed policy meeting wherein future rate hikes were kept on the table and one of the weakest monthly employment reports of the post pandemic era....
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