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Commodities: the price of oil is falling

13/03/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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In Asia, oil prices fell this morning. Investors continue to worry about a possible further increase in US interest rates.

West Texas Intermediate (WTI) crude futures plunged 9 cents, or -0.12%, to $76.59 per barrel, while at 01:32 GMT, Brent futures fell 15 cents, or -0.18%, to $82.63 per barrel. Analysts said in a note this morning that market sentiment was fragile as concerns about further monetary tightening by the Fed were exacerbated by high crude oil inventories in the United States. Oil's weak start to the week represents a slowdown in Friday's positive momentum, when U.S. employment data caught on the rise.

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