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Oil drops more than 5 percent with the growing pandemic and the rise in US production

2020-10-28T20:53:53.705Z

New York-SANA Oil prices fell more than five percent today, sending Brent to its lowest level in four months



New York-Sana

Oil prices fell more than five percent today, bringing Brent to its lowest level in four months in light of renewed closures due to the growing number of new infections with the Corona virus in the United States and Europe.

Reuters reported that Brent crude futures fell $ 2.28, equivalent to 5.1 percent, to settle at $ 39.12 a barrel, while US West Texas Intermediate crude fell $ 2.18, or 5.5 percent, to $ 37.39, and this is the lowest close for Brent since June 12 and for West Texas since the second of November. The first is the largest daily loss in “percentage” for both benchmarks since the 8th of last September.

Source: sena

All business articles on 2020-10-28

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