Tag Archives: monthly

Oil caps the biggest monthly drop since 2008: ‘July has been a massacre’

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Oil capped its biggest monthly stop by almost seven years on speculation that increased OPEC supplies and threats to demand in China will prolong a global glut. West Texas Intermediate oil slid 2.9 percent Friday, bringing the monthly drop to 21 percent. U.S. crude stockpiles are almost 100 million barrels above the five-year seasonal average, while exports from southern Iraq ...

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