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Oil Prices Rally 3% on Weak Dollar

April 26 – Crude futures rose 3 percent on Tuesday as part of a rally in the oil market and as a falling dollar put new life in the commodities market. The bets are Federal Reserve will hold U.S. interest rates to the current values. Refinery margins were boosted as the U.S. gasoline futures rose more than 3 percent to ... Read More »

American Drillers Cut Oil Rigs

April 17 – American energy companies reduced oil rigs for a fourth week to the lowest level since November 2009, as mentioned by Oil Services company Baker Hughes. The energy firms keep slashing spending despite a 50 percent jump in crude futures since hitting a near 13-year low in February. Drillers cut 3 oil rigs in the week of April ... Read More »