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This Week’s Market Buzz

•    Oil prices plunged about 3 percent at press time, putting crude futures on pace for a second weak of losses, after U.S. government data showed recent job gains grinding to a halt last month. Crude futures were already under pressure after data showed a slump in Chinese imports and exports in February and the European Central Bank slashed its outlook for economic growth on the continent. U.S. West Texas Intermediate crude futures fell $1.73, or 3.1 percent, to $54.92. Brent crude futures were down $2.03, or 3.1 percent, to $64.27 a barrel.

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This Week’s Market Buzz

• Oil prices hovered around 2019 highs at press time, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were capped by slowing growth in the global economy. Crude inventories rose by 3.7 million barrels in the week to Feb. 15, the U.S. Energy Information Administration said, compared with analysts' expectations for an increase of 3.1 million barrels. U.S. West Texas Intermediate (WTI) crude oil futures were at $57.04 a barrel. WTI hit a fresh 2019 high of $57.61 earlier in the day. Brent crude futures rose by 10 cents to $67.18 after touching a 2019 peak of $67.38.

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This Week’s Market Buzz

• International Brent crude oil futures fell 55 cents, or nearly 1 percent, to $60.95 per barrel at press time, while U.S. West Texas Intermediate crude futures fell 52 cents, or 1 percent, to $52.49 per barrel.

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This Week’s Market Buzz

• At press time, U.S. West Texas Intermediate (WTI) crude futures were down $1.77, or 3.3 percent, at $52.24 a barrel. International Brent crude oil futures fell $1.54 a barrel, or 2.5 percent, to $61.15.

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This Week’s Market Buzz

• U.S. West Texas Intermediate crude oil futures were at $51.69 per barrel at press time, down 67 cents, or 1.3 percent. International Brent crude futures were down nearly 1 percent, or 53 cents, at $60.921 per barrel. U.S. bank Morgan Stanley cut its 2019 oil price forecasts by more than 10 percent, pointing to weakening economic growth expectations and rising oil supply, especially from the United States. The bank now expects Brent to average $61 a barrel this year, down from a previous estimate of $69, and U.S. crude to average $54, against a prior forecast of $60.

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