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What will revive the oil prices amidst massive inventory builds and plummeting gas prices?

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The exponential rise of the US crude inventories is hardly a catalyst for the crude oil markets to recover the lost ground in the presence of plummeting gas prices. The price of LNG, liquified natural gas, has fallen by more than 85% since its peak in September, 2022. With the rising temperatures as we head into the spring, the revival of gas prices in the short run is next to impossible. As the ordinary people of the West start feeling war-fatigue over the Russia-Ukraine war, the impact on the energy markets appears to be paling into insignificance. The cumulative effect of the falling commodity prices is already felt in the Middle East.

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