Oil traders are selling oil again as concern about the course of the global economy deepens, taking the upper hand over supply fears. Brent crude has lost more than $20 per barrel over the past month, with West Texas Intermediate down by nearly $25 per barrel at the time of writing. Recession fears appear to be the biggest driver of the price decline, with demand still robust despite prices. Meanwhile, hedge funds are selling their oil, Reuters' John Kemp reported in his weekly column on oil market moves. In the week to July 5, they sold the equivalent…
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