Oil Falls to Lowest in Almost Seven Years Amid U.S. Supply Glut

  • Crude stockpiles swelled by 4.8 million barrels last week: EIA
  • White House announces support for deal to lift oil-export ban

Three Factors Impacting the Outlook for Oil

Oil closed at the lowest level in almost seven years after U.S. crude inventories surged and the Federal Reserve raised interest rates for the first time in almost a decade.

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