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8/4, 3:46 PM (Source: TeleTrader)
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Oil falls over 1%, WTI lowest since February

Crude prices extended losses on Thursday with West Texas Intermediate (WTI) dropping to the lowest level since the start of the Ukraine war in February.

The latest decline comes after the US Energy Information Administration (EIA) reported an unexpected jump in the country's oil stockpiles and OPEC+ decided to boost output by 100,000 barrels per day.

WTI for September delivery slid 1.24% to $89.56 per barrel at 9:34 am ET, the lowest since February 21. International benchmark Brent for settlements in October fell 1.44% to go for $95.32 per barrel at the same time.

Baha Breaking News (BBN) / NP