Section: Business & Finance Views: 10Published on: Today, 18:56
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Continued decline in oil prices cost the United States the largest loss in eight months
BAGHDAD / Sky Press: Crude oil prices fell, extending losses for the week to be the largest in eight months, under pressure from inflation crude inventories on land and at sea.
And went down the global Brent crude one percent when the settlement was less than two dollars from its lowest level in six and a half years.
With US crude fell two percent and cohesion barely above $ 40.
Van lost eight percent during the week, the biggest drop in each of them since mid-March.
And increased pressure on oil after data showed the first increase in the number of oil platforms operating in the United States in 11 weeks.
And spread to the decline of petroleum products where Hui price of gasoline in the United States to its lowest level in ten months.
The International Energy Agency said crude oil stocks and petroleum products in the world hit a record high of three billion barrels.
And went down US crude price of $ 1.01 to $ 40.74 a barrel at the settlement, taking its losses for the week to $ 3.65.
The price of Brent crude fell 45 cents to $ 43.61 a barrel, with the end of the contract closest to maturity first for Canon, crude fell about four dollars during the week.
Experiencing the oil market oversupplied estimated at between 0.7 million and 2.5 million barrels per day above demand, which led to a decline in prices by about two-thirds since June 2014.
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