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Oil prices continue to decline

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Miguel A. Rodriguez
Miguel A. Rodriguez
11 April 2022
This morning, oil prices decreased for the second consecutive week

The drop follows the news that the world consumers announced plans to release a record volume of crude and oil products from strategic stocks. Moreover, the markets have been monitoring the recent development in China, where authorities have kept Shanghai under lockdown under its “zero-tolerance” policy for COVID-19.

Members of the International Energy Agency (IEA) will release 60 million barrels over the next six months. The US will match the amount as part of the 180-million-barrel release announced in March. The moves are meant to offset a shortfall in Russian crude after Moscow was hit with heavy sanctions following its invasion of Ukraine.

Brent crude was trading 2% lower at $100.73 per barrel, while crude oil lost 2.2%, reaching $96.09 a barrel.

Sources: reuters.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.