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Failed Doha Talks Send Oil Prices Tumbling
A failed attempt to agree an output freeze by some of the world’s largest oil producers in Doha over the weekend has sent oil prices tumbling at the start of the week, which in turn appears to be weighing on European futures as we approach the open. Energy stocks in Asia have broadly led the decline overnight and I expect to see similar results when European equity markets open this morning. Oil prices have rallied quite well since the start of the year, in part on an expectation that an agreement to freeze production at January levels would be reached. Sunday’s outcome was a real setback and it appears growing ... (full story)
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