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Brent Oil Reaches Lowest Level in 9 Months on Slowing Economic Growth
Bloomberg reported that Brent crude fell below $100 a barrel, its lowest since July, as signs of weak economic growth have lowered demand.
Bloomberg reported that Brent crude fell below $100 a barrel, its lowest since July, as signs of weak economic growth have lowered demand.
As quoted in the market news:
Brent fell below $100 because of the economic outlook in Europe and China,” said Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $1.4 billion. “The picture in Europe looks horrible and the Chinese growth rate is slowing, which means oil demand isn’t going to rise as much as we expected.
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Commodities | |||
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Gold | 2400.38 | +23.61 | |
Silver | 29.37 | +0.91 | |
Copper | 4.34 | +0.08 | |
Oil | 87.23 | +1.64 | |
Heating Oil | 2.72 | +0.06 | |
Natural Gas | 1.76 | -0.01 |
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