23.08.2016 - Oil price retreats as speculative shake-out eases
Analysts warn that much of the impetus for the rebound of the past 2 weeks has faded. Oil retreated 3 per cent on Monday to back below $50 a barrel, as reports Iraq is increasing exports and signs hedge funds have rapidly switched positions raise doubts about the strength of the recent rally. Brent crude, the international benchmark, has surged by almost 15 per cent in the 10 days since Saudi Arabia said it would participate in talks aimed at securing a production freeze with other leading producers...............................................Full Article: Source
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