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2021 August 13   09:32

Oil market expects the demand to decrease and sees the decline of prices

Oil prices fell by 0.69%-0.77%

As of August 13, 08:08 (Moscow Time), Brent Crude futures for October settlement were trading 0.69% lower at $70.82 a barrel on the London-based ICE Futures Europe Exchange.

Light Sweet Crude (WTI) futures for September delivery on the New York Mercantile Exchange fell by 0.77% to $68.56 a barrel.

Oil prices started decreasing after IEA cut its 2021 global oil demand growth forecast.

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