Ali Al Naimi, Saudi Arabia’s veteran oil minister, has stated that the country is prepared for even weaker energy prices and would not change its stance until oil plunged to $20 per barrel.
WTI crude oil futures fell 1.7% Monday to $49.9 per barrel while Brent crude oil futures dipped 0.5% to $59.9 per barrel. Oil prices are beginning to pullback again after rising from a near six-year low last month.
United States Oil Fund
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