Crude oil demand in the United States is down to its lowest level since the onset of the global economic recession. A lackluster economic recovery, coupled with cautious consumer sentiment, is keeping demand for petroleum products suppressed. Nevertheless, lingering concerns over geopolitical tensions with Iran has prompted some governments to raise the possibility of releasing strategic petroleum reserves. Fundamentally, it seems, markets are well supplied, though it may be emotional factors driving certain aspects of the energy market.
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