Crude Oil
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Economy
Brent Crude Rises Above $90 as Hormuz Disruptions Deepen Supply Concerns
DID Press: Brent crude oil prices briefly climbed above $90 a barrel on Tuesday, as fading hopes for a breakthrough in U.S.-Iran negotiations and continued disruption to shipping through the Strait of Hormuz intensified concerns over global energy supplies. Reuters…
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Government
US Strategic Oil Reserve Falls to Lowest Level in More Than 40 Years
DID Press: United States’ Strategic Petroleum Reserve (SPR) fell by about 6.1 million barrels this week to approximately 298.7 million barrels, dropping below the 300-million-barrel mark for the first time since 1983. The decline comes as Washington continues drawing on…
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Economy
US Strategic Oil Reserve Depletion Outpaces Commercial Stocks Threefold
DID Press: Official data covering the period from February 6 to August 3, 2026, indicate that the US Strategic Petroleum Reserve (SPR) has been depleted at a rate more than three times faster than commercial crude oil inventories, bringing emergency…
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Economy
US Crude Oil Inventories Fall by 7.2 Million Barrels
DID Press: US commercial crude oil inventories fell by 7.2 million barrels in the week ending July 24, reaching approximately 404.5 million barrels, according to the weekly report from the U.S. Energy Information Administration (EIA). The EIA said crude stockpiles…
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Economy
US, China and India Dominate Global Oil Consumption in 2025
DID Press: Global oil consumption reached 103 million barrels per day in 2025, marking a 1.3% increase from the previous year, with the United States, China, and India accounting for 41% of worldwide demand, according to new statistical reports. The…
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Economy
India’s Russian Oil Imports Hit Highest Level of 2026
DID Press: India’s imports of Russian crude oil climbed to their highest level of 2026 in June, reaching 2.73 million barrels per day, up sharply from 2.14 million barrels per day in May. According to data from the Centre for…
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Economy
Oil Prices Fall After Iran–US Understanding Eases Supply Concerns
DID Press: Global oil prices declined in trading on Tuesday after a reported understanding between the United States and Iran eased concerns over potential disruptions to global energy supplies. Brent Crude fell 2.2 percent to $77.7 per barrel, while West…
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Economy
Why US Light Oil Cannot Replace Middle East Crude
DID Press: Energy experts say U.S. light crude oil cannot replace heavier Middle Eastern crude due to structural and chemical limitations that restrict its ability to meet global demand for refined fuels. According to leading analysts, including petroleum geologist Art…
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