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Crude oil prices slumped on Wednesday as an unexpected increase in US crude inventories stoked concerns about fuel demand. As of 1305 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.68 (-0.79 percent) to reach $85.57 a barrel. Similarly, the West Texas Intermediate (WTI), the main oil benchmark for North America, went down by $0.59 (-0.72 percent) to $81.03 a barrel.
On the other hand, the price of Arab Light decreased by $0.87 (-0.99 percent) to reach $86.85 a barrel. Similarly, the price of Russian Sokol decreased by $1.08 (-1.35 percent) to $79.01 a barrel. On the other hand, the price for Opec Basket increased to $85.43 from $84.88 a barrel.
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