Crude prices fell significantly at the beginning of the week despite robust US economic data coupled with strong labor figures and positive industry PMI. Chart of the Week Belated and Lax, Oil Price Cap Fails to Impress Markets - Oil prices have been in freefall this week with WTI back to trading slightly above $75 per barrel, as markets remain unimpressed by the G7 oil price cap that has not led to any anticipated supply shortage.
- Both the EU and the United States have agreed to a 45-day transition period when parties can still legally purchase…Oil Falls As Markets Fear Further Action From U.S. Fed
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