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Oil Prices Extend Losses Amid Eased Middle East Supply Disruption Fears

Guavy AI Editorial Team
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Oil
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Oil prices continued their downward trend on Thursday as fears of supply disruptions in the Middle East eased. Brent crude futures dropped $1.24, or 1.2%, to $104.59 a barrel, while US West Texas Intermediate (WTI) crude futures were down $1.14, or 1.1%, to $101.29.

Both benchmarks fell about $3 on Wednesday, extending the previous day's losses. The price drop is seen as a response to reduced concerns over potential supply disruptions in the region.

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