Oil Prices Stuck In Limbo As Uncertainty Mounts
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Oil prices are unlikely to move much higher from the current levels in the low $40s, at least not for the rest of the year, a growing number of analysts and industry professionals say. Oil has been stuck in a narrow trading range in the low $40s more or less since July after the market began to worry that even with large supply cuts from OPEC+ and curtailments in the U.S., demand will not recover fast and strong enough to draw down the record-high inventories that had built in the second quarter. This year has been a year…
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