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CommodityOilPrice.com

Energy Costs Are Driving U.S. Inflation, and Wages Aren't Keeping Up

Inflation rates remain blistering high across the United States. The Bureau of Labor Statistics’s most recent Consumer Price Index, released last week, revealed numbers that were higher than most projections, indicating long-term pain for consumers and a nightmare election cycle for Donald Trump. And the reason for all of it is huge and persistent volatility in global oil and gas markets. The…

CommodityOilPrice.com

API: Crude, Product Inventories Continue to Draw

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 4.93 million barrels in the week ending October 16. In the week prior, US crude oil inventories fell by a staggering 11.12 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 56 million barrels over the last 27 weeks, but US crude inventories are still only…

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