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Crude oil prices sank slightly last week



Consulting Agency


The NYMEX WTI crude oil price sank slightly this past week (July 25 – August 1), closing Thursday’s trade at USD 53.96/barrel (down 4% week-over-week):

- at its July 31 meeting, the Federal Reserve cut interest rates for the first time in more than a decade, to 2-2.25% from 2.25-2.5% per annum;

- the rise in demand shows signs of a slowdown due to trade contradictions, Brexit and other events, which potentially weaken economic growth and, consequently, demand for crude oil, reports UkrAgroConsult.


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