Oil prices fall on rising US shale output and trade-war concerns
The US-China trade war weighs on demand as Saudi slows output to prop up oil prices ahead of Aramco IPO
13 August 2019 - 11:58
London — Oil prices fell on Tuesday on lingering concerns over global demand and rising US production, though expectations for major producers to further curtail output offered support.
Brent crude futures were down 20c or 0.3% from the previous settlement at $58.29 a barrel by 6.43am GMT. The international benchmark has lost more than 20% since hitting its 2019 high in April. US West Texas Intermediate (WTI) futures were at $54.69 a barrel, down 24c or 0.4%...
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