At the same time, global stocks were in a holding pattern while investors awaited the US Federal Reserve's latest decision on monetary policy due on Wednesday.In the space of several minutes during afternoon European trading, North Sea Brent crude oil for delivery in November tumbled from $67.75 to $65.00. It fell as low as $64.24, before recovering a little.
"This time prices slumped on reports of sooner-than-expected return for oil production after the attacks. "Arguably Monday's spike in oil was unsustainable, since oversupply concerns have been the much more dominant theme this year, but the sudden drop came earlier and quicker than expected," said Chris Beauchamp, chief market analyst at online trading firm IG.
The crisis revived fears of a conflict in the tinderbox Gulf region and raised questions about the security of crude fields in the world's top exporter Saudi Arabia as well as other producers. Iran's supreme leader on Tuesday ruled out negotiations with the US"at any level," as tensions mounted between the arch-foes.
pagtaas lng ng presyo mabilis dito.
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