Commodities

Oil stocks slide as Saudi Arabia cuts crude prices

By Frank Prenesti

Date: Monday 08 Jan 2024

(Sharecast News) - Oil stocks were hit as major producer Saudi Arabia cut prices across the board, sending benchmark crude sharply lower on Monday.

Brent crude was down 3.91% to $75.68 a barrel, while West Texas Intermediate fell 4.46% to $70.52.

Geopolitical tensions in the Middle East caused by...

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