Crude oil prices resumed selloff as official data suggested China’s fuel demand shrank last year. Meanwhile, Saudi Arabia pledged to maintain energy investment and called for non-OPEC countries to reduce output. The front-month WTI contract plunged -5.75% while the Brent contract was down -5.22%. Both contracts have declined around -18% since the beginning of the year.
Originally posted here:
Oil Resumed Selloff. Commodity Currencies Also Suffered
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