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Intermediate and Brent crudes extended losses after a government report showed
fell as much as 1.1 percent in
April delivery dropped 98 cents, or 0.9 percent, to $102.35 a barrel at 10:40
a.m. on the New York Mercantile Exchange. Futures traded at $102.75 before the
EIA report was released at 10:30 a.m. in
Brent for April settlement declined 87 cents, or 0.8 percent, to $108.43 a barrel on the London-based ICE Futures Europe exchange. Futures were at $108.38 before the report. Trading was 16 percent higher than the 100-day average.
1.5 percent yesterday, the biggest decline in two months, after Russian
President Vladimir Putin said he sees no immediate need to invade eastern
313,000 barrels of crude a day transited via
realization that there’s little risk of a disruption of Russian oil shipments
to Europe is weighing on the market,” said Addison Armstrong, director of
market research at Tradition Energy in
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