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The Two Major Factors Pushing Oil Prices Higher

OilPrice.com Sunday, 20 January 2019
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading higher on Friday, putting both markets in a position to close higher for the week. The markets are also in a position to change the trend to up on the daily chart after posting a nearly month-long countertrend rally. Prices Rise on Trade Deal Hopes The catalysts behind the rally are hope for a trade deal between the United States and China and adherence to the OPEC-led plan to cut production, trim the excess global supply and stabilize prices. Perhaps keeping…
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News video: Oil Prices Slip As US Output Pressures Globle Market

▶ Oil Prices Slip As US Output Pressures Globle Market 00:39

According to Reuters, oil prices dipped slightly. Brent crude oil futures lost about 36 cents on the day, settling at $61.14 a barrel. West Texas Intermediate crude futures lost about 39 cents, down to $52.62 a barrel. The March contract price for crude oil futures dropped after the EU signaled they...

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