Energy Industry News
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West Texas Intermediate crude fell, capping its biggest weekly drop in more than a month, after rising U.S. durable goods orders bolstered concern that the Federal Reserve will scale back stimulus efforts.
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Rates to ship gasoil in northwest Europe had this year’s biggest weekly increase after BP Plc booked tankers to carry refined fuel from the region to Algeria, draining vessel supply.
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U.S. Gulf Coast crude oils weakened on the spot market on the last day of the rollover period, characterized by below-normal volume and erratic pricing.
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Gasoline fell as equities declined and on speculation that demand will drop after the U.S. Memorial Day Holiday.
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