Brent supply glut dampens the price

Source: Bloomberg
© Scanpix/Reuters
Crude is set for its third straight loss in a month as speculations arose regarding the expansion of oil supplies. The conflicts in the Middle East are threatening OPEC'c second-biggest crude producer Iraq. Brent set for November delivery held steady at $97, whereas the contract added 5 cents, yet overall prices have declined 12.2% the present year. WTI was down 6 cents to $92.47, having fallen 27 cents the day before. 
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