Current Events: Crude oil might see 10% weekly collapse as demand hit: Report #shorts #news

Current Events: Crude oil might see 10% weekly collapse as demand hit: Report #shorts #news

Oil is heading towards a 10% weekly loss as the demand for crude oil was hit by an economic slowdown globally, a Bloomberg report said. The West Texas Intermediate (WTI) was below $89/barrel in Asia, with the US benchmark down over 10% this week. According to official data, crude stockpiles increased even as gasoline consumption decreased in the US.

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#oil #demand #crudeoil #slowdown #global #wti #usbenchmark #stockpiles #gasoline #foxnews #topnewstoday

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Copyright: This video made with Fair Use policy. Text and Images used for knowledge purpose only. Text and Images Credit: Inshorts

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