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A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

U.S. crude inventories break decades-old record after huge build

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A higher-than-expected build of 7.8 million barrels for the week ending on Jan. 29 pushed inventories to 502.7 million barrels.
Harold Hamm, chairman and chief executive officer of Continental Resources Inc., speaks during the 2015 IHS CERAWeek conference in Houston, Texas, U.S., on Tuesday, April 21, 2015.  (Aaron M. Sprecher/Bloomberg)

Oklahoma oilman says US market quality reflected in price

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Harold Hamm, CEO of Continental Resources, says it’s a sign that the world sees domestic light, low-sulfur oil as superior to international oil, much of which is denser and higher in sulfur.
A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

U.S. crude inventory build sends oil prices down

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The U.S. Energy Information Administration said domestic oil tanks last week took in an additional 4.8 million barrels of crude, boosting inventories to 490.7 million barrels. That’s the largest amount of oil the nation has had in reserve since a record-setting supply bulge in April.
A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

Oil falls despite U.S. crude inventory decline

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Oil prices jumped after U.S. data showed the nation’s stockpile of crude shrank by 3.6 million barrels.
Views of oil pipelines and tanks at the Enbridge tank storage and pipeline facility in Cushing, Okla. on Friday Feb. 24, 2011. (Shane Bevel/Freelance)

Oil prices jump on smaller inventory build

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U.S. oil shot up shortly after the news, but inventories remain abnormally full.
A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

Oil prices fall after inventory data show a big build

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The U.S. Energy Information Administration said that stocks of oil across the country rose by 7.6 million barrels in the week ending Oct. 9, bringing the total amount of oil in commercial storage to a 80-year-plus seasonal high of 468.6 million barrels.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Oil inventories rise as refineries slow down

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Refineries across the United States have been paring back operations for fall maintenance season, which sends more oil into storage tanks.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. The fastest oil-inventory growth on record at the main U.S. hub may be about to end, easing concern that storage limits will be strained. Photographer: Daniel Acker/Bloomberg

Crude ends with a gain, after volatile day of trading

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U.S. benchmark oil futures had opened lower on the day but traded to a gain shortly before the report was released. After the inventory data came in, prices reversed course and fell by 98 cents or 2.16 percent to $44.43 per barrel.
The EPA heard radically different views as it opened public hearings in Denver on its proposal to slash allowable methane emissions from oil and gas production. (Lucas Schifres/Bloomberg)

Raymond James cuts natural gas price forecast

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Raymond James lowered its long-term natural gas price estimates Monday, putting the investment banking firm in a growing group of analysts seeing a bleaker future for the fuel.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Oil closes lower as global fears outweigh inventory draw

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The U.S. Energy Information Administration said that the amount of oil in U.S. tanks fell by 5.5 million barrels last week.