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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (146202)2/24/2023 11:52:35 AM
From: Goose94Read Replies (1) of 202904
 
Crude Oil: Prices Drop As Bearish Sentiment Builds

Yet another build in U.S. crude inventories added to downward pressure on oil prices on Friday morning. The EIA's report weighed particularly heavily on WTI, opening an arbitrage window into both Europe and Asia. The market reaction to another 7.6-million-barrel build was originally subdued by speculation of a further production cut from Russia and rumors of Chinese demand returning. Ultimately, inflation fears and continued inventory builds pushed oil prices lower, with ICE Brent trending around the $81 per barrel mark.

Oilprice.com
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