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- Oil lower in early trading
Oil lower in early trading
This morning New York WTI crude oil futures fell 1.33% to $ 45.27 and Brent oil futures fell by 1.08% to $ 47.49 per barrel. Thus, the black gold is traded lower on the background growing US rigs. Meanwhile, oil producers are trying to adapt to the drop in prices, as speculators closed positions, hoping for further price growth. According to experts, the fall in oil prices was a consequence of growth in drilling activity in the US, which means that oil producers can operate profitably at the current cost of raw materials.
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