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Commodities

Oil Prices Plummet on August 13

Guavy AI Editorial Team
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Oil
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Oil prices took a hit on August 13, with both WTI Crude Oil and Brent Crude Oil experiencing declines. The West Texas Intermediate (WTI) crude oil price at the New York Mercantile Exchange (NYMEX) Stock Exchange dropped by 1.55% to $81.36 per barrel. Meanwhile, the Brent Crude Oil price at London's Intercontinental Exchange (ICE) fell by 1.49% to $87.14 per barrel.

A barrel of oil is equivalent to 159.98 liters. The NYMEX and ICE are major global exchanges for oil futures trade, with NYMEX ranking first in oil futures trading. Both divisions of the NYMEX and ICE offer a platform for buying and selling various commodities, including oil.

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