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Commodity: Oil prices changed little on Monday

21/02/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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After falling $2 per barrel on Friday, oil prices changed little in early Asian trading on Monday, as increased supply in the United States and forecasts of further interest rate hikes dampened optimism that demand would resume Chinese.

At 0051 GMT, Brent crude oil slipped 9 cents, or 0.1%, to $82.91 per barrel. For its part, US West Texas Intermediate crude for March, which expires Tuesday, was $76.40 per barrel, up 6 cents. The more active April contract lost 9 cents to $76.46. After the United States reported an increase in crude and gasoline inventories, the benchmarks closed lower. According to trade data, Russian oil imports from India reached a record 1.4 million barrels per day in January.

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