#OPEC deal #looks #solid #despite #Qatar #rift

Oil prices had been falling for two weeks, with Brent dipping below $48 a barrel last week. It has firmed up since then with Brent LCOc1 futures passing the $49 mark in early trading on Monday before dropping slightly Tuesday afternoon. The long positions reflect positive expectations regarding inventories in the near future and a somewhat weaker dollar. Still, it is hard to fathom that Brent stood at around $55 a barrel just two weeks earlier.

Source: OPEC deal looks solid despite Qatar rift

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