Oil Prices Head for First Back-to-Back Weekly Loss of 2019 - Bloomberg:
From an attempted coup in Venezuela to tougher sanctions on Iran and disrupted flows from Russia, global oil markets have been roiled by a host of supply crises over the past week.
The surprising result is that prices have kept sliding.
Crude’s indifference to the array of threats reflects that world markets remain comfortably supplied for the time being, largely thanks to the ongoing surge in American production, which hit a new record last week. Prices are also capped by worries about the global economy, with manufacturing data from China and the U.S. showing that growth remains fragile.
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