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Commodity: Oil prices fell for the second time on Wednesday

18/05/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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After an unexpected increase in crude oil inventories in the United States fueled concerns about demand, oil prices fell for the second time on Wednesday.

US West Texas Intermediate crude fell slightly by 32 cents, down 0.4%, to $70.55, starting at 00:05 GMT. The future price of Brent oil was 29 cents lower, a decrease of 0.4%, to $74.60 per barrel. Even as the International Energy Agency raised its forecast for global oil demand this year, oil prices fell by 200,000 barrels per day (bpd) to a record high of 102 million

bpd.
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