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Commodity: Oil prices fall for the fourth day in a row

23/05/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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After the minutes of a US Federal Reserve meeting revealed discussions about further tightening interest rates if inflation remained stable, oil prices fell for a fourth consecutive session Thursday.

Brent crude futures fell 20 cents, or 0.2%, to $81.70 per barrel at 06:51 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 29 cents, or 0.4 percent, to $77.28. Both benchmarks fell by more than 1% on Wednesday.

Selon les analystes de Citi, “la Recent market weakness is due to weaker data, including higher oil inventories, lukewarm demand, weak refinery margins, and a growing risk of order cuts.”

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