Oil prices dipped lower on Thursday

International benchmarks for oil prices fell on Thursday (10 Mar) on Reuters report that a meeting between major oil producers is unlikely to take place this month as Iran has not committed to any production freeze. In fact, Iranian official confirmed they would not join the agreement until they can reach the pre-sanctions production level, which is about four million barrels per day. Analyst also expect that the recent rally in oil prices might be hurdled by the unchanged fundamental issue - supply is still plenty.

WTI closed at   $37.84/b (-$0.45)
Brent closed at $40.05/b -($1.02)

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