Oil prices bottom

Oil prices are back on the defensive with WTI crude barrels back beneath Inventories of distillate fuel reserves rose by 1. WTI crude barrel prices are now touching into three-week lows lows as fossils traders continue to absorb the downside pressure of supply outages from Canada and Libya. With WTI crude prices sliding back into the

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Oil bottom may be in place

Has Oil Bottomed Out? | pureandsimplerecipes.com

As the highly competitive situations fade, overall base oil demand is now boosted by both seasonal aspects and currently attractive base oil prices. The Group II supply glut that extended from the fourth quarter is narrowing, partly because of better domestic demand and partly because of significant volumes of Group II exported during February. It could be due to the spike in crude the past several weeks and buyers have come to the conclusion the base oil selling price has reached its bottom. The overall view on the US base oil market at early March is that there is scant expectation for prices to move down again. The existing low prices are driving vacuum gas oil VGO feedstock toward other parts of the refining process at the refineries, cutting back at least a little on base oil production.
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Oil Prices May Have Reached A Bottom

Oil prices have been one of the most watched trends in economics during the 21st century. Shortly thereafter, a deep global recession throttled demand for energy and sent oil and gas prices into a precipitous free fall. Numerous factors contributed to the drop in oil prices. Economies such as China, whose rapid growth and expansion created an unquenchable thirst for oil in the first decade of the new millennium, began to slow after China is the world's largest country by population, so its lower oil demand had significant price ramifications.
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Request a Copy. Learn More. Oil is continuing its streak of gains this morning as prices hit new post-Christmas highs. Although gasoline prices fell on Friday and diesel saw just modest gains, this morning brings modest gains to both products.
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