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Oil prices stable, supported by signs of emerging supply deficit

From reuters.com

Oil prices were steady on Friday, supported as production cuts led by OPEC and U.S. sanctions against Venezuela and Iran likely created a slight deficit in global supply in the first quarter of 2019. ut oil prices have been capped by concerns that an economic slowdown will soon start denting growth in fuel demand. Brent crude oil futures were at $67.15 per barrel at 0126 GMT, 8 cents below their last close, but still within a dollar of the $68.14 2019-high reached the previous day. U.S. West Texas Intermediate (WTI) crude oil futures were at $58.55 per barrel, down 6 cents from their last settlement, and not far off ... (full story)

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  • Category: Fundamental Analysis