West Texas Intermediate is over $57 USD a barrel, the U.S. has imposed partial sanctions against Saudi Arabian officials who will have limited access to financial markets plus the U.S. announced plans to end air refueling flights for the Saudi-led coalition fighting Houthi rebels in Yemen. Today’s inventory levels slowed oil prices from moving higher, otherwise, it could have moved another $1.
Sterling fell over 300 points, a number of key cabinet members resigned from Prime Minister May’s government, there is talk of a non-confidence vote causing the currency to drop.
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