Oil Drops Amid Conflicting Reports About Speed of Saudi Recovery - Bloomberg:
“It’s tug of war between weak demand fundamentals and heightened geopolitical risks,” said Jens Naervig Pedersen, a senior analyst at Danske Bank A/S in Copenhagen.
Brent crude for November declined 17 cents to $64.11 a barrel on the ICE Futures Europe Exchange as of 1:59 p.m. in London, and traded at a $6.12 premium to West Texas Intermediate.
WTI for November delivery was little changed at $58.10 a barrel on the New York Mercantile Exchange, after climbing 5.9% last week.
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