The Traderszone Network

Published in TZ Latest News 7 September, 2015 by The TZ Newswire Staff

Weak economic outlook and oversupply weigh on oil markets

U.S. oil prices fell on Tuesday as the global economic outlook darkened further and cooperation between oil producing countries to curb oversupply looked unlikely, pulling U.S. crude prices down around three percent in early Asian trading. Japan’s economy shrank an annualized 1.2 percent in April-June, revised gross domestic product (GDP) data showed on Tuesday, despite ongoing government and central bank measures to support growth.

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