Crude prices fell on Tuesday morning, ahead of the weekly crude inventory reports, as August inflation data came in hotter than expected. Chart of the Week Gas-to-Oil Switching Counteracts Recession Fears - Despite the drop-off in European spot prices, the cost of natural gas remains prohibitively high, paving the way for global gas-to-oil switching in the power generation industry. - Refiners and energy-intensive industries are already adding some 350,000 b/d of incremental oil demand, coming from the burning of fuel oil and other oil products…
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