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Crude Oil Settles Higher, but Fears Over Slowing Global Growth Keep Lid on Gains


Friday, 26 July 2019 02:33 WIB

Minyak WTI


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Crude oil prices rose Thursday as traders cheered data from a day earlier showing a fall in U.S. crude stockpiles. But concerns about global growth raised by European Central Bank President Mario Draghi kept a lid on gains.

On the New York Mercantile Exchange WTI crude futures delivery rose 14 cents to settle at $56.02 a barrel, while on London's Intercontinental Exchange, Brent gained 21 cents to trade at $63.39 a barrel.

The threat of a slowing global economy on oil-demand growth was in the spotlight once again as Draghi hinted that the central bank would consider adopting more aggressive monetary policy easing measures, including rate cuts amid worries about slowing global growth.

Source: marketwatch


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