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A barrel of Brent oil for delivery in September was this Thursday at USD 97.20 on London’s Intercontinental Exchange Futures (ICE), the lowest since the start of the war in Ukraine.
Around 12:35 pm, Brent oil, the benchmark in Europe, was quoted at 97.20 dollars, 2.4% less than on Wednesday (99.57 dollars).
Crude oil fell as investors waited for a possible hike in US interest rates to rein in rising inflation.
Oil prices have fallen in recent weeks due to concerns over a possible economic slowdown.
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