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Oil Logs Another Loss Ahead of OPEC Summit

M. Ali 27 April, 2021 1:22 am Commodities, Market Update

Oil prices continued to decline on Monday, extending their losses from last week, due to concerns about the surge in new coronavirus cases in India and other Asian markets.

Markets are anticipating the upcoming OPEC+ meeting on Wednesday.

Brent crude futures for June delivery dropped by 46 cents, or 0.7%, to close at $65.65 per barrel.

Earlier today, the global benchmark most active contract fell below $65 a barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for June delivery lost 23 cents, or 0.4%, to finish at $61.91 per barrel.

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