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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Oil is set for its largest quarterly price drop in 6 years, as workarounds for the Strait of Hormuz chokepoint and a drop in crude imports to China ease the historic supply crunch. U.S. oil companies are expected to report their strongest quarterly profits in years. President Trump has been pressing oil companies to lower gasoline prices ahead of the November midterm elections.