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  • Brent Drops 3.7% to Reach $59.96 As U.S. Inventories Rose by 2.2 Million Barrels
Today Brent dropped by 3.7% to reach $59.96. The sharp drop was linked to data released by the U.S. Energy Information Administration which showed U.S. oil inventories increased by 2.2 million barrels in the week through June 7. This price is 20% lower than the highest price reached in April and comes at a time when there are concerns that the ongoing U.S.-China trade war is weakening oil demands.

Brent Drops 3.7% to Reach $59.96 As U.S. Inventories Rose by 2.2 Million Barrels

Today Brent dropped by 3.7% to reach $59.96. The sharp drop was linked to data released by the U.S. Energy Information Administration which showed U.S. oil inventories increased by 2.2 million barrels in the week through June 7.

This price is 20% lower than the highest price reached in April and comes at a time when there are concerns that the ongoing U.S.-China trade war is weakening oil demands.

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