Wednesday, 7 August 2019

Oil slumps 5% to 7-month low on trade tensions, surprise U.S. stock build

HOUSTON — Oil prices tumbled up to 5% on Wednesday to a fresh seven-month low, extending recent heavy losses following an unexpected build in U.S. crude stockpiles and fears of lower crude demand due to deepening U.S.-China trade tensions. Brent crude futures LCOc1 were down $2.38, or 4%, at $56.56 a barrel by 10:36 a.m. […] More »

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