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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Oil near the peak of 2019 amid OPEC cuts, but the economic slowdown is holding back

rocky
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Oil near the peak of 2019 amid OPEC cuts, but the economic slowdown is holding back Empty Oil near the peak of 2019 amid OPEC cuts, but the economic slowdown is holding back

Post by rocky Thu 21 Feb 2019, 3:56 am

Oil near the peak of 2019 amid OPEC cuts, but the economic slowdown is holding back

Oil near the peak of 2019 amid OPEC cuts, but the economic slowdown is holding back 13132


Oil prices surged near their 2011 highs on Thursday, supported by OPEC-led supply cuts and US sanctions on Venezuela and Iran, but the global economic slowdown has kept it from rising further.
At 0742 GMT, US WTI crude futures were at $ 57.39 a barrel, up 23 cents, or 0.4 percent, at the latest settlement, close to the peak of 2019 at $ 57.55 recorded the day before.
Brent crude was $ 67.20 a barrel, up 12 cents, or 0.2 percent, on the latest closing, not far from its peak of $ 67.38 a barrel the previous day.
Analysts said the global economic slowdown was preventing prices from exceeding peak levels this week.
"The slowdown in economic growth will inevitably lead to fuel shortages, eroding the strong gains in oil prices," said Benjamin Lo, analyst at Philip Futures in Singapore.


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