Oil price has PLUNGED 8% from USD67/barrel to USD62/barrel the last few days despite a truce on further new tariffs between Trump & Xi at G20 last Sunday & OPEC extending its production cut for another 9 months last Monday.
Lets see if oil price will fall below USD60/barrel this month or maybe will it drop to USD55/barrel...
"Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast."
"Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09."
"West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel"
"Oil prices fell on Thursday, extending declines into a fourth day, after official data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season."
"Brent crude futures were down 15 cents, or 0.2%, at $63.51 a barrel by 0044 GMT. They fell 1.1% on Wednesday."
"U.S West Texas Intermediate crude futures fell 26 cents, or 0.5%, to $56.52. The U.S. benchmark dropped 1.5% in the previous session."
"Oil settled lower on Friday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf of Mexico following last week’s hurricane in the region."
"U.S. West Texas Intermediate crude futures fell $1.48 — or 2.6% — to settle at $55.30. The U.S. benchmark dropped 1.5% in the previous session, and 3% on Wednesday."
"Brent crude futures fell $1.94, or more than 3%, at $61.72 a barrel by 2:36 p.m. ET. They fell 1% on Thursday, and 3% on Wednesday."
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Will76
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Posted by Will76 > 2019-07-03 15:00 | Report Abuse
Oil price has PLUNGED 8% from USD67/barrel to USD62/barrel the last few days despite a truce on further new tariffs between Trump & Xi at G20 last Sunday & OPEC extending its production cut for another 9 months last Monday.
Lets see if oil price will fall below USD60/barrel this month or maybe will it drop to USD55/barrel...