3/25/2022, 10:51 AM (Source: TeleTrader)
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Oil prices decline by 2% after US-EU gas deal

The prices of oil futures declined on Friday after the European Union announced it has reached a deal with the United States over additional deliveries of liquefied natural gas (LNG) to the bloc.

Earlier, Canada stated it is planning to increase its export of oil to make up for the lack of commodity following the ban of the one coming from Russia in a number of markets.

West Texas Intermediate for settlements in May lost 2.30% at 5:33 am ET to sell for $109.73 per barrel. At the same time, Brent for deliveries in the same month decreased by 2.10% to go for $116.45 per barrel.

Baha Breaking News (BBN) / JR