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NRGZ - Weekly Energy Recap: Pondering Permian Pipeline
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E Sr MedTrm Nt
A pump jack operates in the Permian Basin oil production area near Wink, Texas U.S. August 22, 2018. (Reuters)
Oil prices tumbled last week as Brent crude fell below $60 per barrel for the first time in eight months. Brent finished at $58.53 while WTI fell to $54.50 per barrel.
Some analysts suggest that Brent has dropped on fears that the trade spat will expand into a full currency war, overshadowing the risk of supply disruptions in the Arabian Gulf. There has also been much attention paid to gloomy global economic sentiment dragging the oil