Oil prices trade lower as US-EU reach LNG deal
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas.
Supply concerns increased this week when it was announced that the Caspian Pipeline Consortium terminal on Russia's Black Sea coast stopped exports after being damaged by a storm. The U.S. and its allies were discussing a possible further coordinated release of oil from storage to ease concern, according to U.S. Energy Secretary Jennifer Granholm.
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