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Oil slips away from 2019 highs

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Oil slips away from 2019 highs

.As surging US supply undermines OPEC cuts Market Singapore

Oil prices slipped away from 2019 highs on Wednesday, with surging United States (US) supply and slowing economic growth tempering upward pressure from supply cuts led by producer club OPEC and from Washington’s sanctions on Iran and Venezuela.

US West Texas Intermediate (WTI) crude oil futures hit 2019 highs of 56.39 dollars per barrel on Wednesday but had slipped back to 56.15 dollars per barrel by 0523 GMT, which was slightly above their last settlement.

Continue reading Oil slips away from 2019 highs at Vanguard News Nigeria.

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