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ComMODITIES: THE EVOLUTION OF OIL

25/10/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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E Due to the conflict between Israel and Hamas in the Gaza Strip, oil changed little on Wednesday after three days of decline, with concerns about a slowdown in European demand offsetting fears of supply disruptions in the Middle East

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While US West Texas Intermediate oil futures rose 1 cent to $83.75 per barrel, Brent oil futures rose 6 cents to $88.13 per barrel at 0345 GMT. Crude prices may find some support as China's main parliamentary body has approved a bill to issue 1 trillion yuan ($137 billion) in sovereign bonds and allow local governments to issue new debt starting at their 2024 quota in order to boost the economy

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