Business Maverick: Oil Jumps As Record-High Crude Exports Signal Rising Demand

Oil jumped after the US exported a record amount of crude and fuel last week, indicating higher demand for American oil.

exports

“Higher exports, falling gasoline inventories — both of those signal that we’re going to need more US oil down the road,” said Rob Thummel, a portfolio manager at Tortoise Capital Advisors, which manages roughly $8 billion in energy-related assets.level in three weeks, making commodities priced in the currency more attractive.

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