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Oil Extends Biggest Weekly Drop Since April 2020 as Diplomatic Efforts Continue Despite Fresh Attacks

By ChordNews · First written (updated )

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Summary

Oil extended its biggest weekly drop since April 2020 as diplomatic efforts to end the war in the Middle East continued despite fresh attacks in the region, Bloomberg reported. In its later coverage, Bloomberg reported that Brent crude briefly slumped below $90 a barrel as technical factors deepened a selloff driven by expectations of further de-escalation in the Iran war.

This continues an earlier story: Oil Falls Again as Hopes for US-Iran Diplomacy Grow

Later: Brent Crude Falls Below $90 a Barrel as Trump Says Iran War Is 'Effectively Over' · Angola's Bonds Lead Emerging-Market Oil Producer Selloff as Brent Falls Below $90 · Brent crude falls below $90 a barrel for first time since August

Timeline

  1. Bloomberg

    Source ↗

    Bloomberg reports that oil extended its biggest weekly drop since April 2020 as diplomatic efforts to end the war in the Middle East continued despite fresh attacks in the region.

  2. Bloomberg

    Source ↗

    Bloomberg reports that Brent crude briefly slumped below $90 a barrel as technical factors deepened a selloff driven by expectations of further de-escalation in the Iran war.

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