Oil prices continue fall but analysts bullish about longer-term outlook
Faltering vaccine rollouts and increasing US oil inventories are driving sentiment
18 March 2021 - 14:56
London — Oil prices fell for a fifth day running on Thursday after official data showed a further increase in US crude and fuel inventories while the ever-present Covid-19 pandemic clouded the prospects for demand recovery.
Brent crude fell 50 US cents, or 0.74%, to $67.50 a barrel by 11.50am GMT after dropping 0.82% on Wednesday. US oil was down 53c, or 0.82%, at $64.07 after shedding 0.3% in the previous session. Both contracts are down nearly 3% over the past five days...
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