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Oil Steady as Stockpile Drop Forecast Weighed Against Trade War


Tuesday, 10 December 2019 07:41 WIB

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Oil was little changed as investors weighed an expected drop in American crude stockpiles against the possibility of the U.S. imposing extra tariffs on a new $160 billion swath of Chinese goods this Sunday.

West Texas Intermediate for January delivery was down 13 cents to $58.89/bbl on the New York Mercantile Exchange as of 7:45am Singapore time.

Brent futures for February settlement closed 14 cents lower at $64.25/bbl on London's ICE Futures Europe Exchange on Monday. The global benchmark crude ended Monday’s session at a $5.25 premium to WTI for same month.

Source : Bloomberg


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