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Monday, January 30, 2023
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Oil Prices Weaken but Here’s Why Any Good Feeling Won’t Last Long

Crude prices on Monday briefly dropped below the level at which they started the year. Given the spike in oil prices has been the source of a lot of pain, it’s worth taking a step back to consider the implications.

Energy prices were creeping up at the start of the year as the global economy emerged from the Covid-19 pandemic. Supply lines weren’t running smoothly after two years of lockdown-induced slumps, and demand was strengthening as consumers emerged from their shells.

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