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Oil prices edge lower on continued China demand worries

Por: MarketWatch Business August 23, 2023

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“The rally in oil appears to have run out of steam for now. China’s macro issues, along with a growing expectation that maybe the U.S. Fed is not done with its tightening cycle have weighed on oil more recently,” Warren Patterson and Ewa Manthey, commodity strategists at ING, said in a note. Troubles in China’s property sector have added to concerns over lackluster economic data from the world’s second-largest oil consumer. Investors... + full article



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