Oil gives up earlier gains as Saudi Aramco ups production
The coronavirus is still weakening demand and North American oil producers slash spending
11 March 2020 - 12:44
London — Oil prices fell on Wednesday, giving up earlier gains, pressured by Saudi Arabia’s plans to boost oil production capacity for the first time in more than a decade and weakened demand due to the spread of the coronavirus.
Brent crude was down 74c or 2% to $36.48 a barrel by 9.30am GMT, while US West Texas Intermediate (WTI) crude was off 75c or 2.2% at $33.61...
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