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Oil edges down on expectations of more OPEC+ supply, tariff fears
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7 Articles
Oil edges down on expectations of more OPEC+ supply, tariff fears
Oil prices edged down on Tuesday, weighed by expectations of an OPEC+ output hike in August and concerns of an economic slowdown driven by prospects of higher U.S. tariffs.Brent crude futures for September delivery fell 16 cents, or 0.24 per cent, to $66.58 a barrel by 0000 GMT. U.S. West Texas Interme
Oil prices declined today, Tuesday, influenced by prospects for an increase in OPEC's production and its allies in Abe, and fears of economic slowdown driven by the possibility of higher US customs duties. The future contracts of Brent's September 1 o'clock delivery declined.
Oil falls on OPEC+ supply boost hopes, US tariff concernsBrent and WTI oil prices fell 0.5% on Tuesday as OPEC+ plans to increase output by 411,000 barrels per day in August. Uncertainty over US tariffs and oversupply also weigh on the market.
London - Oil prices continued their recent losses on Tuesday, with the expected expansion of the production volume through the Opec+ oil network being the focus.
Oil edges down on expectations of more OPEC+ supply, tariff fears - Regional Media News
By Anjana Anil (Reuters) -Oil prices edged down on Tuesday, weighed by expectations of an OPEC+ output hike in August and concerns of an economic slowdown driven by prospects of higher U.S. tariffs. Brent crude futures for September delivery fell 16 cents, or 0.24%, to $66.58 a barrel by 0000 GMT. U.S. West Texas Intermediate crude declined 20 cents, or 0.31%, to $64.91 a barrel. “The market is now concerned that the OPEC+ alliance will continue…
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