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Oil futures slump as Saudis cut prices

Por: MarketWatch Politics January 08, 2024

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“When a major oil producer like Saudi Arabia offers price discounts, it’s either a sign of concern about weakening demand conditions or an attempt to stop foreign producers such as the U.S.A. from stealing market share away,” Marios Hadjikyriacos, senior investment analyst at XM, said in a note. “Either way, it’s a bearish signal for energy prices.” Oil bounced last week, finding some support as attacks on shipping in the Red Sea... + full article



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