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NOVEMBER 20,2019
Worry about oversupply / slow progress of trade negotiations international oil prices lower
2019-11-20 16:37
Concerns about the global oil supply glut and the slow progress of negotiations to resolve the Sino US trade dispute cast a shadow on the outlook for crude oil demand. On November 19, international crude oil fell. New York Mercantile Exchange West Texas light oil futures settled at $55.21 per barrel in December 2019, down $1.84/barrel, or 3.2%, from the previous trading day, with a trading range of $55.05-57.11; London Intercontinental Exchange Brent crude oil settled at $60.91 per barrel in January 2019, down $1.53/barrel, or 2.5%, from the previous trading day, with a trading range of $60.7-62.57 Buckets.
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