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Following a year of rising crude demand and tight supply, the crude futures market is now pointing at oversupply, and many Middle East producers will be forced to slash premiums again
Last week, crude prices settled mixed in volatile trade, as concerns about the global economic growth and oil demand were offset by EIA data showing an unexpected large draw in US crude oil stocks. Investors weighed Germany’s announcement that it planned to stop importing oil from Russia by the end of the year. Meanwhile, a ...
Last week, crude prices settled mixed in volatile trade, as concerns about the global economic growth and oil demand were offset by EIA data showing an unexpected large draw in US crude oil stocks. Investors weighed Germany’s announcement that it planned to stop importing oil from Russia by the end of the year. Meanwhile, a decline in the US dollar value from recent highs
After last week’s decline, oil prices have started to pick up again on the back of hopes for Chinese demand rebounding soon