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WTI Extends Saudi-Driven Gains After Big Surprise Crude, Gasoline Draws
Oil prices ended higher on the day as comments from the Saudi Energy Minister dominated weakness in PMIs and debt ceiling doubts in the US “I keep advising them that they will be ouching - they did ouch in April,” Saudi Energy Minister Prince Abdulaziz bin Salman said at the Qatar Economic Forum in Doha on Tuesday. “I would just tell them: Watch out!” That statement lifted WTI from overnight lows but not everyone was buying what the Sauds were selling: “As amusing as it may be to hear the Saudi energy minister issue a warning to oil short-sellers, what ultimately matters is what Saudi Arabia, and, more ... (full story)