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Glen Crabtree, a floor hand for Raven Drilling, lubricates a pipe while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota

Oil drops after data shows unexpected jump in US inventories

Oil prices slumped Wednesday, extending losses from their worst month in two years, after data showed US crude inventories rose unexpectedly.

Oil jumps as war of words between US and Iran leaves traders on edge

Oil prices jumped Monday as reports the Organization of Petroleum Exporting Countries production hit its highest level this year failed to ease mounting supply concerns amid a war of words between the US and Iran.
Saudi Arabia's King Salman bin Abdulaziz Al Saud (L) receives US President Donald Trump for the Arab Islamic American Summit in Riyadh, Saudi Arabia May 21, 2017.

Saudi Arabia slashes oil prices after Trump slams the ‘OPEC monopoly’

Saudi Arabia's state-run oil giant cut its prices on Thursday for first time since February after President Donald Trump lashed out at OPEC for rising US gas prices.
President Donald Trump displays a presidential memorandum after announcing his intent to withdraw from the JCPOA Iran nuclear agreement in the Diplomatic Room at the White House in Washington, U.S., May 8, 2018.

Iran asks Trump to stop tweeting about oil — because it’s driving prices up

"Please stop it, otherwise it will go even higher!" Iran's OPEC Governor Hossein Kazempour Ardebili said in a statement, according to the country's Shana news agency.
Roughneck Brian Waldner is covered in mud and oil while wrestling pipe on a True Company oil drilling rig outside Watford, North Dakota.

Oil is rallying toward fresh highs as US crude inventories see biggest drop since 2016

Oil rallied more than 2% on Wednesday as data showed US crude inventories last week saw the largest drawdown in nearly two years.

Oil is sliding after OPEC cuts a deal to raise production

Oil prices fell Monday after OPEC and other supply-cutting countries led by Russia agreed to gradually ease oil supply cuts that have been in place for nearly two years.
Mercedes holds a news conference to unveil new G-Class models at the North American International Auto Show in Detroit, Michigan

The Dow falls for an 8th straight day

Stocks fell Thursday, with the Dow Jones industrial average declining for an eighth straight day, as trade tensions persisted among the US and multiple countries. The dollar and Treasury yields fell.

Oil slides as OPEC closes in on a production increase

Crude prices slid Thursday as OPEC and other supply-cutting countries moved closer to a deal to ease supply cuts  that have been propping up prices for two years.

The US reportedly wants OPEC to pump out 1 million more barrels of oil a day

US officials have reportedly asked Saudi Arabia and other supply-cutting countries to raise output by about a million barrels per day.
Oilfield pumping units of PetroChina Daqing Oilfield Company Limited at Daqing, northeast China's Heilongjiang province.

Oil slides amid ‘lack of clarity’ on OPEC and record US production

Oil fell Friday morning as markets mulled the future of OPEC supply cuts, as well as rising crude production and falling stockpiles in the US.