Oil prices are lower, again, this morning, continuing a several week slump. Brent crude oil prices have broken below $110, and WTI oil prices are testing the $103 level. German trade data was weaker than expected, and an official measure of UK manufacturing was also weak. Both of these data points are weighing on prices this morning. The resumption of some Libyan output has also helped extend the losses in the oil market, along with the seeming security around Iraq’s oil infrastructure.
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