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4/26, 10:49 AM (Source: TeleTrader)
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Oil slips 1% as worries over virus spikes mount

Oil prices went down by more than 1% on Monday as the investors weighed the impact that COVID-19 case spikes in India could have on the global demand for crude.

India, the world's third-largest oil importer, saw another record increase in coronavirus infections during the last 24 hours, while its health authorities registered more than 2,800 deaths during the same time.

Brent for June delivery was down 1.27% to $65.27 per barrel at 4:38 am ET. At the same time, West Texas Intermediate for June fell 1.35% to $61.30 per barrel.

Breaking the News / BU