Tag: Brent Crude
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Brent Crude Falls to $19 Per Barrel
The international crude oil benchmark, the Brent crude, fell by 6.76 percent or $1.45 to $19.99 per barrel on Monday. The decline in oil prices was caused by demand worries and oversupply facing the market lately. This is coming after the crude fell last week to such levels for the first time in two decades.…
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Supply cuts,strong demand, pushes oil price close to late-2014 highs
Oil prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts, as well as strong demand, gradually draw down excess supplies. Brent crude oil futures were up at 73.79 dollars per barrel at 0440 GMT. U.S. West Texas Intermediate (WTI) crude futures down 2 cents at 68.40 dollars…
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Oil prices rise to $70 on strong economy amid OPEC cuts
Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries (OPEC) and Russia. Spot Brent crude oil futures, the international benchmark for oil prices, were at 70 dollars a barrel at 0102…