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Last week, U.S. natural gas prices fell sharply, impacted by increased production, fluctuating demand forecasts, and substantial inventory levels. At times, the selling pressure was relentless as traders continued to assess the potential impacts of shifts in weather and production. During the week-ending May 31, Natural Gas settled at $2.587, down $0.168 or ...
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As widely expected ahead of Sunday’s virtual gathering, OPEC and its allies agreed to extend cuts of 3.66 million barrels per day bpd until the end of 2025 and begin phasing out voluntary cuts of 2.2 million bpd over the next 16 months, beginning in September. While markets had expected OPEC and Russia to extend voluntary cuts by a few months due weaker oil ...