Oil prices rebound slightly on short-covering

Quick Summary:

Oil prices rebounded slightly on Wednesday on short-covering a day after they fell near a two-week low on Opec's reduced demand forecast, but gains were limited as the dollar hit a seven-month high.

Brent crude futures settled up 39 cents, or 0.5%, to US$72.28 a barrel.

Iran's oil minister said Tehran had made plans to sustain oil production and exports and was ready for possible oil curbs by the US, the ministry's news website Shana reported.

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Category: EconomyBusiness

Markets: MalaysiaChinaIndiaIsrael

Topics: OPECForecast CrudeRebound USCrude GeopoliticalRisk OilPrices GlobalDemand Commodities DollarImpact /Business/ EnergyMarket

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 07:45:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 552 words

Reading Time: 4 minutes read

Sentences: 24 lines

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Copyright Owner: © The Star

News ID: 23577381

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