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Oil falls after Saudi assurances on market balance, Mideast tensions


Wednesday, 22 May 2019 08:36 WIB

Minyak jenis BrentMinyak WTI Berjangka


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Oil prices fell on Tuesday after Saudi Arabia reiterated it would aim to keep the market balanced and try to reduce tensions in the Middle East, while industry data showed a surprise increase in U.S. crude inventories.

Brent crude futures were down 37 cents, or 0.5%, at $71.81 at barrel by 0037, having risen 21 cents on Tuesday.

U.S. West Texas Intermediate (WTI) crude futures for July delivery were down 54 cents, or 0.9%, at $62.59. The June contract, the previous front-month contract which expired on Tuesday, settled at $62.99 a barrel, down 11 cents.

Source: Reuters


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