Markets

Eurozone's Economic Data Continues to Disappoint

Crude oil slipped below 90 after initially climbing to a 5-day high of 90.95 as disappointing European data hurt sentiment. Yet, the benchmark contracts are expected to record gains on monthly basis. Brent crude contract probably rose +9% during in July while WTI contract added +5%. Iran's oil minister Rostam Qasemi stated that the fair price for crude oil is 100/bbl and there's currently no urgency for holding an emergency meeting to address price falls. He last month called for such a meeting to boost prices.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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