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Oil prices broadly stable amid flurry of weak economic data
![IndiaTimes]()
Tuesday, 24 October 2023
Oil prices remained stable on Tuesday after economic data from Germany, the euro zone, and Britain suggested a bearish outlook for oil demand. Euro zone business activity worsened this month, indicating a possible recession. German readings also indicated a recession, while Britain's businesses reported declining activity. Oil prices fell on Monday due to efforts to contain the conflict between Israel and Hamas. Crude stockpiles in the US were expected to have increased last week.
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