Forex Trading Library

StockWatch: Oil Drops by 17% on UAE Supply Boost!

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Oil prices rose again amid confusion over whether major producers would help to plug a gap in supplies from Russia.

The UAE initially appeared to push members of the OPEC group to raise output, only for the UAE’s energy minister to overturn these hopes recently.

Analysts have stated that it would be challenging for Opec+ to boost production in this environment.

So where do these commodities go from here?

Timestamps:

  • WTI 02:00
  • GOLD 03:25

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