Oil falls on high US inventories and Trump nixing stimulus talks
Oil platforms have shut in US Gulf as Hurricane Delta strengthens and Norwegian strike escalation could cut even more output
07 October 2020 - 13:02
Singapore/London — Oil prices fell on Wednesday after US President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy, with prices also pressured by a larger than expected rise in US crude inventories.
Brent crude futures lost 74c, or 1.7%, to $41.91 a barrel by 10.09am GMT and US West Texas Intermediate (WTI) crude declined by 89c, or 2.2%, to $39.78...
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