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8/1, 2:34 PM (Source: TeleTrader)
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Crude extends losses, WTI plunges over 3%

Crude oil prices slipped further on Monday as China, the world's largest consumer of oil, seemingly faces an economic downturn led by the resurging number of pandemic cases, followed by gloomy data from Europe, that may dampen consumption of oil in the two regions.

Meanwhile, the traders awaited this week's OPEC+ meeting, which could determine energy output levels.

West Texas Intermediate (WTI) for settlements in September plunged by 3.38% to sell for $95.14 per barrel at 8:08 am ET, while at the same time, Brent for deliveries in October dropped by 2.79% going for $101.11 per barrel.

Baha Breaking News (BBN) / AB