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Oil prices slip as economic fears offset tightening crude su

Oil prices slip as economic fears offset tightening crude supplies Reuters | Jul 12, 2021 11:06 PM EDT An employee demonstrates a sample of crude oil in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia in this picture illustration taken (Photo : REUTERS/Vasily Fedosenko/Illustration/File Photo) Oil slumped on Monday over concerns about spreading COVID-19 variants derailing the global economic recovery that has brought fuel demand to near pre-pandemic levels, while tight crude supplies kept prices from falling lower. Brent crude for September settled at $75.16 a barrel, losing 39 cents, or 0.5%. U.S. West Texas Intermediate crude for August settled at $74.10 a barrel, down 46 cents, or 0.6%.

Oil Prices and Pandemic Resurgence

Oil Prices and Pandemic Resurgence TEKS Oil Prices and Pandemic Resurgence Controlling the spike in the new COVID-19 cases seems to be an important reference for portfolio investors. Oleh 13 Juli 2021 TEKS The latest development in world oil prices has been very interesting, especially because there is a reciprocal relationship between oil demand and the resurgence of COVID-19 cases. World oil demand will recover if the increase in COVID-19 transmission can be controlled, allowing room for the world economy to grow again. The Organization of the Petroleum Exporting Countries (OPEC), as a cartel, can influence market prices as its members can determine the volume of production that will be poured into the world market. However, OPEC became a victim of its own success.

AmBank Research sees Malaysia s IPI growth flagging despite robust showing in May | Money

Tuesday, 13 Jul 2021 12:46 PM MYT A worker is seen at his station at Mapo Industries Sdn Bhd’s plastic container manufacturing plant in Port Klang July 8, 2021. Picture by Miera Zulyana Follow us on Instagram and subscribe to our Telegram channel for the latest updates. KUALA LUMPUR, July 13 Malaysia s industrial production remained strong in May 2021 but the robust growth may not be sustainable, according to AmBank Research. It noted that the Industrial Production Index (IPI) growth slowed down during the month with a smaller increase of 26 per cent year-on-year (y-o-y) compared with the 50.1 per cent y-o-y growth seen in April. “The performance of the retail and wholesale sectors also showed a similar trend, improving by 28.3 per cent y-o-y in May 2021, down from a 66.2 per cent growth in April 2021.

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