Crude Oil Prices Fall Significantly

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Crude oil prices fell significantly despite improved employment figures and a positive Purchasing Managers’ Index.

Brent crude fell by 3.5% to trade at $79.76 per barrel, while the American WTI dropped 3.30% to trade at $74.39 per barrel.

Oil prices have been on a freefall this week as markets remain unimpressed by the G7 oil price cap that has not led to any anticipated supply shortage.

Written by: Helen Obih

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