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Oil Slips on Prospect of Increased Supply From Iraq and Russia

Summary by Bloomberg
Oil declined on the prospect of increased supply from Iraq and Russia, as US President Donald Trump pushes to end the three-year old war in Ukraine.

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Oil Slips on Prospect of Increased Supply From Iraq and Russia

Oil declined on the prospect of increased supply from Iraq and Russia, as US President Donald Trump pushes to end the three-year old war in Ukraine.

·United States
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Oil Prices Hold Declines On Prospect of Higher Russia, Iraq Supplies

(Bloomberg) -- Oil steadied after a string of declines as the prospect of increased flows from Iraq and Russia weighed on the outlook, with market gauges flashing signs of weakness on the likelihood of oversupply.Brent traded below $75 a barrel, while West Texas Intermediate was near $71. WTI’s front-month contract traded at 1 cent less a barrel than the contract for the following month, the first time since November the so-called prompt spread …

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Bloomberg broke the news in United States on Sunday, February 16, 2025.
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