Crude prices struggle to build on Monday bounce as major oil field resumes output
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Crude oil prices fell on Tuesday following reports that Equinor has resumed partial production at the Johan Sverdrup oil field in Norway, impacting the oil market.
November 19, 2024 | 12:15 pm
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The resumption of production at the Johan Sverdrup oil field by Equinor has led to a decrease in crude oil prices, which may negatively impact the United States Brent Oil Fund (BNO) in the short term.
BNO, an ETF that tracks Brent crude oil prices, is likely to be negatively impacted by the resumption of production at the Johan Sverdrup oil field, as this has led to a decrease in crude oil prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80