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Crude Oil Markets

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A slide in banks and industrial companies nudged stocks on Wall Street to modest losses Wednesday after an early gain faded in the last half-hour of trading. Stocks championed by hordes of online retail investors, the “meme” stocks as they have become known, were volatile once again.

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FRANKFURT, Germany (AP) — The OPEC oil cartel and allied producing countries plan to restore 2.1 million barrels per day of crude production, balancing fears that COVID-19 outbreaks in some countries will sap demand against surging energy needs in recovering economies.

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DUBAI, United Arab Emirates (AP) — The U.S. has sold some 2 million barrels of Iranian crude oil after seizing an oil tanker off the coast of the United Arab Emirates, court documents and government statistics show.

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