Market News and Commentary – Wall Street Underground

By Nick Guarino | July 16, 2019

Oil Prices Down On Dwindling Storm Impact, Chinese Economic Data


Oil prices sank about 1% on Monday on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived, while Chinese economic data dimmed the crude demand outlook. Crude prices softened as oil companies returned workers to offshore platforms as the effects of the storm have subsided.

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