Oil Prices Continue To Decline Due To An Increase In U.S. Stockpiles, Which Is Alleviating Concerns About The Supply
Category: General
On Thursday, for the third consecutive day, oil prices experienced a decline, primarily due to the U.S. reporting a more substantial buildup in crude and gasoline inventories than expected, which alleviated concerns about supply issues. According to Reuters, Brent futures dropped by 30 cents, equivalent to a 0.35% decrease, reaching a price of $85.52 per barrel. Simultaneously, U.S. West Texas Intermediate crude saw a 42-cent decrease, translating to a 0.50% decline, with the barrel price settling at $83.07
12 Oct, 2023
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