Oil prices fell over 4% on Wednesday after an unexpected rise in US inventories caused concern over whether output cuts from the world's major producers had done little to halt the global glut.
The price of Brent Crude fell 4.1% to $48.06 a barrel, its lowest level since November while West Texan Intermediate declined 5.1% to $45.72 a barrel. According to the Financial Times, the sharp fall...
The US dollar is close to peaking and the risks now seem to be on the downside.
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