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Commodities Briefing - Categorized | Oil, Price Watch more

Why Oil Prices Aren’t Dropping More After Doha Talks

Posted on 19 April 2016

The Doha oil meetings yielded no news of a production freeze. So why aren’t oil prices down more? Oil prices are down Monday after major crude producers failed to reach a deal to freeze production. But they’re not actually down by that much.
The U.S. crude oil benchmark fell more than 6% when the market opened, but it’s since walked back those losses and was recently down by just 2.4% at $39.41 a barrel. If it settles at that level, it wouldn’t even be one of the 10 biggest daily drops this year, in percentage terms………………………………………..Full Article: Source


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