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Commodity News Details
Weekly Crude Oil Review: WTI futures sink amid demand concerns
16-Nov-2024 14:07

WTI Crude Oil extended downside as prices fell below $70 per barrel amid the fears that a Trump administration will spark a tariff-led trade war and concerns about demand growth in China. Trump has announced his intention to impose a blanket tariff ranging from 10% to 20% on all imports and additional tariffs on up to 60% of products imported from China. Besides, strength in dollar overseas is also adding pressure on the commodity. Sustained worries over demand growth also played a part in pulling the commodity near $66 per barrel mark

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