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Oil falls from the highest level in 2019 as a result of economic concerns DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Post by claud39 on Tue Feb 19, 2019 1:42 pm

http://economy-news.net/content.php?id=15450


Oil falls from the highest level in 2019 as a result of economic concerns




19/02/2019





Oil falls from the highest level in 2019 as a result of economic concerns 940





Economy News Baghdad:



Oil fell from a peak of 2019 to around $ 67 a barrel on Tuesday, as fears over the progress of US-China trade talks and the global economic slowdown have dampened the fall in supplies.
Output cuts led by the Organization of the Petroleum Exporting Countries (OPEC) have helped crude prices rise more than 20 percent since the beginning of this year. Demand concerns remain the main driver of lower prices.
Brent crude fell 64 cents to $ 65.86 a barrel by 1435 GMT, after peaking at a high of $ 201.83 at $ 66.83 a barrel on Monday. US crude fell 26 cents to $ 55.33 a barrel.
On Tuesday, more talks between the United States and China will be held to resolve their trade dispute. Traders say they are wary of creating large new positions before reaching a conclusion.
 
In another economic warning, HSBC, Europe's biggest bank, warned it could delay some of its investments this year with earnings below the expected in 2018 due to slower growth in China and Britain.
 
OPEC cut its forecast for world oil demand growth in 2019 to 1.24 million bpd and some analysts believe the outlook could fall further.
claud39
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