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Commodities

Brent Crude Plunges 1.2% Amid Ongoing Pressure on Markets

Guavy AI Editorial Team
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Oil
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Oil prices declined in early trading on Thursday, following losses from the previous session. The downward trend is attributed to ongoing pressure on crude markets.

According to Qazinform News Agency, Brent crude futures had fallen $1.24, or 1.2 percent, to $104.59 per barrel as of 00:49 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped $1.14, or 1.1 percent, to $101.29 per barrel.

Both benchmarks had fallen by around $3 per barrel by the close of trading on Wednesday. This reversal is a significant change from earlier in the week when oil prices surged to multi-month highs.

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