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Why is oil declining?

May, 02 2024

This week, the price of Brent crude oil has significantly decreased, falling by more than 4%. The current quote of the asset is $83.40 per barrel. North American WTI crude oil fell to the area of $78.80. The price reduction is due to several reasons at once. First, there is the lack of significant news from the Middle East. Although this is only a temporary lull, and the appearance of information that Israel will launch an operation in Rafah may disrupt this calm. Prime Minister Benjamin Ne... Read More

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