Brent crude oil futures settled at its lowest since April on Thursday and US crude fell into bear market territory and ended below $49 a barrel for the first time since late March, as persistent concerns about ample supply and shaky demand offset support from the dollar's weakness.
US crude's US$48.45 a barrel settlement is down 21 percent from the June 10 close at US$61.43 and a 20 percent downturn is considered by many traders to constitute a bear market.
The weaker dollar supported oil early, but the U.S. currency trimmed losses after a report showing tumbling jobless claims in the United States.
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US crude's US$48.45 a barrel settlement is down 21 percent from the June 10 close at US$61.43 and a 20 percent downturn is considered by many traders to constitute a bear market.
The weaker dollar supported oil early, but the U.S. currency trimmed losses after a report showing tumbling jobless claims in the United States.
Click Here For Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance About KLSE online Feel Free To Mail Us at : info@epicresearch.my
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