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U.S. crude oil falls more than 1% as market hopes Libya production halt will be short lived - TL;DR CNBC

U.S. crude oil falls more than 1% as market hopes Libya production halt will be short lived

Publishing timestamp: 2024-08-27 11:37:07


Summary

U.S. crude oil prices surged due to potential disruption in Libyan production, but market expects gradual rather than sudden impact. Goldman projects short-lived halt in Libyan production. China's shift to electric vehicles and U.S. supply efficiency gains could lead to lower oil prices in the future.


Sentiment: MIXED

Tickers: @CL.1@LCO.1@RB.1@NG.1

Keywords: wti crude (mar'23)rbob gas (mar'23)natural gas (mar'23)ice brent crude (apr'23)investment strategymarketsbusiness newsoil and gasbreaking news: markets

Source: https://www.cnbc.com/2024/08/27/crude-oil-prices-today.html


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