Oil prices move closer to $50 per barrel on supply fears

Oil prices move closer to $50 per barrel on supply fears New York (UPI) May 16, 2016 - Simmering concerns about supply shortages across the global energy market pushed crude oil prices sharply higher in early Monday trading. Sluggish demand from a lackluster global economy had pushed oil lower since the middle of 2014, though the market sentiment is shifting its focus to supplies. Last week, the International Energy Agency said that, after roughly two years, balance was s ... more

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