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Commodity: Oil prices are falling

28/07/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Owing to concerns about demand, oil prices fell in Asian exchanges at the end of the week. However, they are on track for a fifth consecutive week of increases.

American West Texas Intermediate (WTI) crude lost 34 cents, or 0.4%, to $79.75 per barrel, but headed for a weekly increase of 3.6%, while Brent lost 42 cents, or 0.5%, to $83.82 per barrel at 0404 GMT, but was on track to increase 3.5% weekly. According to the Commerce Department, U.S. gross domestic product in the second quarter grew 2.4%, exceeding the consensus of 1.8%.

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