Oil Edges Down After Week of Gains

A swath of positive news in the past two weeks has boosted investor confidence in oil

Crude Oil: $50.21 barrel, Natural gas: $2.810/MMBtu, Gold:$1275.60 per troy oz


Oil prices edged down on Tuesday, following a week of straight gains that brought the global oil benchmark above $50 a barrel for the first time in two months, amid growing optimism that the market is tightening.

Brent crude, the global oil benchmark, fell 0.61% to $52.40 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 0.38% at $49.98 a barrel.

Resource: WSJ

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