Live Breaking News & Updates on S Oil Prices|Page 1
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US Gasoline Stock: Inventories had fallen almost exactly in line with the prior ten-year seasonal average by November 10 from a surplus of 7 million barrels (+3% or +0.93 standard deviations) two weeks previously. ....
Auto Workers Strike: Most economists reasonably focus on the temporary blow to U.S. economic output or payrolls from a lengthy strike across the sector. And the economy could contract almost one full percentage point in the fourth quarter, according to Morgan Stanley economists, which would cut their full-year 2023 GDP growth call to 1.4% from 1.7%. ....
Diesel Demand: U.S. gas prices continue to soar, reaching an average of USD 3.78 per gallon, a 25-cent increase in a month. Heat waves affect refineries, cutting supply. Crude oil supply cuts from major producing countries contribute to rising prices. Gasoline exports remain high despite lower domestic demand. California faces the highest prices at USD 5.01 per gallon, while Mississippi has the lowest at USD 3.29. ....