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Oil traders take a long-shot bet on a possible U.S. oil export ban

December 9, 2021 by

The oil market has been volatile as top consuming nations came together in an unprecedented move last month to release crude from their emergency reserves and bring down energy costs. The Biden Administration’s ongoing focus on lowering gasoline prices has now prompted some traders to purchase some contracts that could pay out just in case they takes further steps, such as limiting or pausing crude exports.

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