This morning in New York futures for WTI crude oil were down -0.80% to $ 44.39 and Brent oil futures fell by -0.43% to $ 46.00 per barrel. Thus, the black gold is trading lower as analyzed data from the US indicated a surplus of oil on the market, while the volume of exports from Iraq’s black gold is growing. Given the huge oil volumes stored in tanks and tankers on land and water, rebalancing the market takes longer than expected.
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