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Brent Oil - Oil rises on weak US production data, geopolitical tensions
15-08-2024 02:42
Oil prices rose on Thursday, driven by a reported decline in U.S. crude production, intensifying geopolitical tensions, and growing expectations of interest rate cuts from the US Federal Reserve.
Commodity Roundup: Oil up after bullish API report, UBS favours gold amid geopolitical risks
Oil prices rose on Wednesday, with Brent crude (CO1:COM) trading above $80/bbl following a larger-than-expected oil inventory withdrawal