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Oil Prices Continue Decline Amid Strong Dollar and Supply Concerns

share-iconTuesday, January 07 comment-icon2 weeks ago 7 views
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reutersREUTERS
Oil Prices Continue Decline Amid Strong Dollar and Supply Concerns

Credited from: REUTERS

  • Oil prices continued to decline for a second consecutive session, with Brent futures lower by 0.37% and WTI by 0.45%.
  • The decline follows a five-day rally which saw prices reach their highest since October.
  • Market analysts attribute this week's drop to technical corrections and weaker economic data globally.
  • A firm dollar is also impacting oil prices, making it costlier for foreign currency holders.
  • Forecasts indicate that strong non-OPEC demand and weak Chinese consumption will keep the market well supplied.

For more details, visit the original article here.

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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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