The price of oil: Saudi Arabia will reduce the price by 50 cents

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Stock Markets Group – oil Prices fell on Thursday, as the new risks associated with China and turmoil in stock and currency markets have increased investors ‘ concerns about a slowdown in the global economy.
The price of Brent crude oil fell 21 cents, or 0.38%, to $ 54.70 a barrel, while futures for WTI crude oil fell by 1.27% to $ 45.95 a barrel.
The Japanese yen rose sharply and showed the biggest intraday gain for the past 20 months, as investors transferred money to the assets of refuge.
Also, according to the news Agency Reuters, citing its sources, the largest oil exporter Saudi Arabia will probably reduce oil prices in February on the “heavy grade” sold in Asia, by$ 0.50 per barrel because of lower world prices for fuel oil and other fuels and lubricants.
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Igor Gross,
Analyst of commodity markets,
Stock Markets Group