Thursday markets have been open nearly the same time.
In August 2016, prices for basic products hit record highs, largely due to strong demand at the holiday market.
Brent crude futures (bcr) are now around $80 per barrel, with the U.S. crude benchmark hitting $94.27 the day before the market closed.
In contrast to that, North American crude is trading close to $55 a barrel, down from $84.77 just three days earlier, according to BMO Capital Markets.
The lower prices on average for U.S. crude were attributed to factors such as the U.S. energy patch hitting a lull, which was partially to blame for the fall in prices, according to Reuters.
“In contrast to a sharp decline in oil prices, the U.S. was a net contributor to overall price gains of between $7 and $9 per barrel since June 2015,” said Paul Colford, senior vice president for energy research at BMO Capital Markets. “The bulk of the drop has occurred with U.S. oil inventories. The U.S. has now started to limit its stockpiling of oil.”
While the U.S. continues to enjoy a healthy oil patch, the nation’s largest shale fields are also holding off on expanding production to meet the country’s curre더킹 카지노nt energy needs. The industry is g예스 카지노rowing faster than demand, and many of the shale wells have been left largely unexplored because of the difficulties of building them.
The decline in crude prices, in part, could also be a reflection of the경주출장마사지 ongoing global economic slowdown. The U.S. unemployment rate in June was the lowest in 18 months, and manufacturing has rebounded from the recent downturn.
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