WS #10760
Oil prices sliding (WTI -2.04%, Brent -2.58%) on OPEC cracks and Saudi Arabia ramping up exports, with strategists predicting sub-$50 oil. Venezuela hit by 7.2 and 7.5 earthquakes causing significant damage to oil infrastructure and ports, but oil prices not reacting as market focuses on supply increases elsewhere. UK PM Starmer pledges additional £1bn+ in defence spending over four years, supporting defence stocks.
Oil Price Decline and OPEC Cracks
Oil prices sliding (WTI -2.04%, Brent -2.58%) on OPEC cracks and Saudi Arabia ramping up exports, with strategists predicting sub-$50 oil.
Venezuela hit by 7.2 and 7.5 earthquakes causing significant damage to oil infrastructure and ports, but oil prices not reacting as market focuses on supply increases elsewhere.
UK PM Starmer pledges additional £1bn+ in defence spending over four years, supporting defence stocks.