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The recession in America has dramatically cut demand for crude oil, and inventories are piling up. The lighter the oil it is, the less processing is needed at a refinery and the costs are lower. Recessions usually bring cheap oil and gasoline. But not now. Crude oil, the lifeblood of the global economy, costs $61.67, [...]
Read full post...The term light sweet crude oil, defines the kind of crude oil that is used in the making of gasoline, kerosene, heating oil, jet fuel and diesel fuel. It contains very little sulfur, has a low density and is known to have a sweet taste and pleasant smell. Given that it has so many uses, [...]
Read full post... Oil prices rise to highest they’ve been in over two months. Investors are gearing up & preparing for more OPEC production cuts. Oil has been ready for a recovery, and historically it’s hard to find a 30-day window kinder to the market than about March 15 through April 15.
Benchmark crude for April delivery gained [...]