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Oil Settles Lower After Three Rises

M. Ali 28 August, 2020 1:08 am Commodities, Market Update

Oil prices finished Thursday lower, after rising for three consecutive days on the back of a draw in US crude inventories and output disruptions in the Gulf of Mexico due to hurricane Laura.

Brent crude futures for October delivery decreased by 55 cents, or 1.2%, and closed at $45.09 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for October delivery settled lower by 35 cents, or 0.8%, at $43.04 a barrel.

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