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Oil dips on swelling U.S. supply, but mood generally upbeat on trade hopes


Thursday, 10 January 2019 07:51 WIB

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Oil prices dipped on Thursday on swelling U.S. supply, although the mood in global markets was increasingly confident amid hopes the United States and China may soon end trade disputes that have undermined global economic growth.

U.S. West Texas Intermediate (WTI) crude oil futures were at $51.93 per barrel at 00:33, down 43 cents, or 0.8 percent, from their last settlement.

Both oil price benchmarks had jumped by around 5 percent the previous day as financial markets around the world surged on that hopes that Washington and Beijing may be able to soon end their trade disputes, soothing fears of an all-out trade war between the two biggest economies and its possible impact on global growth.

Source: Reuters


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