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International crude oil prices fall on concerns of economic outlook

24 Jun 2022 16:32 reported by Liv Wang

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International crude oil futures fell on Thursday (June 23). Investors are pessimistic about the global economic outlook as the US Federal Reserve (Fed) and other central banks continue to raise interest rates to curb inflation.

Besides, the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ will meet next week and will likely focus on discussing output policy in August. The market is holding a wait-and-see atmosphere.

Light sweet crude prices on the New York Mercantile Exchange (NYMEX) for August delivery decreased by 1.8% to US$104.27/barrel. Brent crude for August delivery slid by 1.5%, reaching US$110.05/barrel.

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