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Commodity: Oil prices at their highest level in 10 months

15/09/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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After China reduced bank reserve requirements to boost economic recovery, oil prices reached their highest level in 10 months at the end of this week.

At 00:27 GMT, Brent rose 46 cents, or 0.5%, to 94.16 dollars and West Texas Intermediate (WTI) American crude was up 0.6% to 90.74 dollars. The two referrals traded at their highest levels since November. Continuing concerns about supply and expectations from the US central bank, which is maintaining rates after Europe hinted that Thursday's hike would be the last, allowed oil prices to finish higher for the third week in a row.

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