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Commodity: Oil is on the rise

31/05/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Oil is recovering after heavy losses before the vote on the US debt ceiling. Oil prices have risen in the hope of raising the U.S. debt ceiling by $31.4 trillion

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Brent oil futures for delivery in August rose 11 cents to $73.82 per barrel at 0013 GMT, while West Texas Intermediate (WTI) oil gained 8 cents to $69.54 per barrel. Both fell by more than 4 percent on Tuesday. The July Brent contract, which expires Wednesday, and the U.S. benchmark were on track for monthly declines of more than 7% and 9%, respectively

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