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[rtl]Editing Date: 12/21/2019 8:35 • 81 times read[/rtl]
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{International: Al Furat News} Oil prices fell, but both benchmarks achieved gains for the third week in a row, amid the easing of US-Chinese trade tensions, which boosted corporate confidence and the outlook for global economic growth.
The price of the settlement in Brent crude futures was set at 66.14 dollars a barrel, down 40 cents, or 0.6 percent, but with weekly gains of about 1.4 percent. US West Texas Intermediate crude contracts closed at $ 60.44 a barrel, down 40 cents or 1.21 percent, and gains of about 0.6 percent over the week.
Progress in settling the trade dispute between the world's two largest oil consumers has boosted expectations for higher energy demand next year.
"[Focus] is still focused on developments related to the US-China trade situation, and with enough positive news throughout the week," said John Kildov, from Again Capital in New York.
China announced a list of customs exemptions on six oil and chemical products from the United States, days after Washington and Beijing said that a preliminary trade agreement was to be signed in January.
https://alforatnews.com/modules/news/article.php?storyid=223687
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Oil falls .. and gains for the third week in a row
[/rtl][rtl]Editing Date: 12/21/2019 8:35 • 81 times read[/rtl]
{International: Al Furat News} Oil prices fell, but both benchmarks achieved gains for the third week in a row, amid the easing of US-Chinese trade tensions, which boosted corporate confidence and the outlook for global economic growth.
The price of the settlement in Brent crude futures was set at 66.14 dollars a barrel, down 40 cents, or 0.6 percent, but with weekly gains of about 1.4 percent. US West Texas Intermediate crude contracts closed at $ 60.44 a barrel, down 40 cents or 1.21 percent, and gains of about 0.6 percent over the week.
Progress in settling the trade dispute between the world's two largest oil consumers has boosted expectations for higher energy demand next year.
"[Focus] is still focused on developments related to the US-China trade situation, and with enough positive news throughout the week," said John Kildov, from Again Capital in New York.
China announced a list of customs exemptions on six oil and chemical products from the United States, days after Washington and Beijing said that a preliminary trade agreement was to be signed in January.
https://alforatnews.com/modules/news/article.php?storyid=223687
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