In the oil patch radio show is proud to bring you this week’s Energy Minute produced by shalemag.com. Here’s Texas Railroad Commissioner Ryan Sitton with your current industry update:
Oil prices rose on Tuesday, as a result of a larger than expected Crue draw reported by the American Petroleum Institute and as a result of the United Kingdom’s seizure of an Iranian oil tanker in the Strait of Gibraltar, Iranian officials claimed the actions of the UK would not go unanswered. Stoking geopolitical escalations in the Persian Gulf region. Also supporting crude prices are potential interest rate cuts by the Federal Reserve markets await fed chairman Jerome pals comments later this week, WTI closed the day up to 73 cents at $58 and 56 cents a barrel while Nymex natural gas prices close a day up 3 cents at $2 and 43 cents for mn Btu.
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