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Oil and Natural Gas: Price recovery
During the Asian trading session, the price of oil consolidated at around 121.00 dollars, and as the EU trading session started, the price started to bullish. Fears of a recession and potential new constraints in China could weaken demand as limited supply remains in the market. Supply shortages have been exacerbated by falling exports from Libya amid a political crisis that has hit manufacturing and ports. Other OPEC + producers are struggling to meet their production quotas, and Russia is facing oil bans over Ukraine’s war. Analysts quoted Libyan oil minister Mohammed Auna as saying the country’s production had ... (full story)