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Oil Prices Ease to Three-Week Low at Weekend as Negative Economic News Offsets Trade Optimism
8 Articles
8 Articles
Oil prices ease to three-week low at weekend as negative economic news offsets trade optimism
Oil prices eased to a three-week low on Friday night on negative economic news from the United States and China and signs of growing supply despite optimism on new US trade deals. Read full story
US, China Economic Worries Weaken Oil Market
By Adedapo Adesanya The oil market eased on Friday and settled at a three-week low as traders worried about negative economic news from the US and China and signs of growing supply. Brent crude futures fell by 74 cents or 1.1 per cent to settle at $68.44 per barrel, while the US West Texas Intermediate (WTI) crude
Global economic uncertainties and rising oil production are pushing prices down
Mexican oil closed the week down when it was located Friday afternoon at $62.90 per barrel (dpb), which meant a decrease of 69 cents compared to yesterday's day, or 1 percentage point. West Texas Intermediate, for its part, ended the day at 65.16 dpb, just over a dollar below yesterday's closing, while the North Sea Brent lost 92 cents to be located at $68.44 per unit.
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