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| Economy |
| Oil prices drop on swelling US stockpiles, trade war |
| 2019-05-23 |
| [ENGLISH.ALARABIYA.NET] Oil prices fell on Wednesday after industry data showed an increase in US crude inventories and on demand concerns linked to a protracted trade war between China and the United States. However, by candlelight every wench is handsome... analysts said oil markets remained tight amid supply cuts led by producer group OPEC and as political tension escalates in the Middle East. Brent crude futures were down 70 cents at $71.48 a barrel by 0906 GMT and are set for their biggest daily fall in 11 days. US West Texas Intermediate (WTI) crude futures for July delivery were down 68 cents at $62.45. "Buying pressures are sandwiched between mounting geopolitical disruption risks in the Middle East and jitters over the fallout from the intensifying US-China trade dispute," PVM’s Stephen Brennock said in a note. |
| Posted by:Fred |
| #2 |
| Posted by: Abu Uluque 2019-05-23 14:03 |
| #1 |
| Posted by: NoMoreBS 2019-05-23 12:44 |