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Oil Prices Down More Than 2% and Brent Crude
Drops to USD 60.93 per Barrel
June 12, 2019
Oil prices fell more than 2% on Wednesday, pressured by an
unexpected rise in U.S. crude inventories and by a weaker
outlook for global oil demand.
Brent crude futures, fell by $1.36, or 2.2%, to $60.93 a barrel,
while U.S. crude futures dropped by $1.39, or 2.6%, to $51.88 a
barrel.
Oil futures extended losses after the U.S. Energy Information
Administration (EIA) reported domestic crude stockpiles climbed
last week by 2.2 million barrels. Analysts surveyed by Reuters
forecast a decrease of 481,000 barrels.
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