U.S. West Texas Intermediate crude oil prices fell by 1% on Thursday after U.S. Energy Secretary Jennifer Granholm informed lawmakers that refilling the Strategic Petroleum Reserve (SPR) might take several years. Nonetheless, the market is still higher for the week and in a position to post a potentially bullish closing price reversal bottom. Granholm's remarks raised concerns about a potential oversupply of oil, which was amplified by the Energy Department's plan to release an additional 26 million barrels as part of its congressional mandate.…
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