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Oil: Prices plunged about 3%

20/05/2021
Categories: Raw materials

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After a rise in American inventories, Asian demand worries and oil prices drop 3%.

The recovery in Asian demand and the rise in US crude inventories caused a plunge in oil prices. A barrel of WTI for the month of June listed in New York fell 3.25% from Tuesday's close, at $63.36.
That of Brent from the North Sea for delivery in July ended at 66.66 dollars in London, down 2.98%. WTI and Brent dropped as much as 5% during the day before recovering a little before the close.

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