Crude Oil News And Analysis | Commodity Market Tips

Oil prices trimmed gains on Monday, the first trading day of the New Year, after rising more than 3% earlier, with investors noting heightened geopolitical tension between Saudi Arabia and Iran.

Global crude production is outpacing demand following a boom in U.S. shale oil and after a decision by the Organization of the Petroleum Exporting Countries last year not to cut production in order to defend market share.

 

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