Oil prices took a hit on August 4, as WTI Crude Oil (Light Sweet) lost 8.22% of its value to $74.52 per barrel at the NYMEX Stock Exchange in New York.
Brent Crude Oil also declined, dropping by 7.91% to $78.28 per barrel on London's ICE Stock Exchange.
The unit of measurement for oil volume is the barrel, which equals 159.98 liters.
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