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Falling U.S. crude supply begins to impact global oil prices

The culprit behind the latest jump in oil prices isn’t soaring natural gas prices or even OPEC+’s limits on output but rather what is happening at America’s largest oil storage hub in Oklahoma.

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That’s one version. The other is the US is net oil independent and what’s in storage is just a function of foreign imports. Who cares about storage. Most of that stored oil is for future refining which will be sold on the world market. Who is it from? Canada primarily, the Saudi have the worlds largest refinery in Texas. Venezuela has a refinery. BP etc. So yea, foreign oil for foreign refineries placed in hurricane alley. Brilliant. Good morning

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