Oil Prices Fluctuate Amid Supply Concerns and Market Volatility
TL;DR Summary
Oil prices dropped below $90 a barrel due to a stronger dollar and concerns over high interest rates following strong economic data. The extension of voluntary oil cuts by Saudi Arabia and Russia also contributed to market uncertainty. However, the market remains cautious as the cuts will be reviewed monthly, and potential obstacles such as U.S. refinery maintenance and increased supply from Iran, Venezuela, and Libya could impact prices.
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- Midday update for Crude oil 06-09-2023 Economies.com
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