epa06417398 An oil drilling rig is seen off the Pacific Ocean coastline after the Trump administration announced plans to dramatically expand offshore drilling Seal Beach, California, USA, 04 January 2018. The proposal would allow for drilling in most US coastal waters.  EPA/EUGENE GARCIA
Sustained low demand has cushioned oil from geopoltical tensions in the Middle East. EPA

Oil enters bearish territory as Brent remains below $60

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