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Gavin Newsom Approves New Law to Tackle Gas Prices, Says Oil Industry Raising Prices To 'Scare Voters' Into Supporting Trump
Petrobras Exec Says Set To Lower Average Nat Gas Prices By 1.41% In November; CFO Says Considering Changes To Current Rules On Payment Of Extraordinary Dividends As Part Of New Strategic Plan; Might Change Current Minimum Cash Level Of $8B, Could...
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Reverse, reverse again and reverse again! What happened to the oil price roller coaster ride?
Affected by factors such as OPEC's plan to increase supply in December, the Brent crude oil price fell from over $90 in April to slightly below $70 in mid-September. Subsequently, following China's central bank's announcement of a "policy gift package" and intensified turmoil in the Middle East, oil prices reversed course with a weekly increase of over 9%. On Tuesday, China's National Development and Reform Commission held a press conference, but as the tensions in the Middle East did not escalate as expected, oil prices reversed again with a sharp 5% drop on Tuesday.
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