Oil prices fall on U.S. demand concerns, interest rate fears [Globe and Mail, The (Toronto, Canada)]
RAKUTEN GROUP INC S/ADR (RKUNY)
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Source: Globe and Mail, The
demand, while signs that U.S. interest rates could remain elevated added to pressure. Brent crude futures for April fell 43 cents, or 0.5 per cent, to $83.25 a barrel by 0830 GMT, after rising 3 cents in the previous session. The April contract expires on Thursday and the more active May contract was down 33 cents at $81.82. U.S. West Texas Intermediate crude futures were down 26 cents, or 0.3 per cent, to $78.28 a barrel. Brent is set to end the month up at nearly 2 per cent, its second monthly gain, while WTI is also set to rise for a second month, gaining about 3 per cent in February. U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week as refiners ran at below seasonal lows due to planned and unplanned outages, the Energy Information Administration said on Wednesday. Crude inventories rose for the fifth consecutive week, increasing by 4.2 million barrels to 447.2 million barrels in the week ended Feb. 23, the EIA said, compared with ana
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