Oil Prices Drop 2%
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Oil Prices Fall Sharply
Crude oil benchmarks experienced a significant drop of nearly 2% during early Wednesday trading, continuing a downward trend that began the previous session.
- Brent Crude: $86.80 per barrel (down $1.78 or 2%)
- US West Texas Intermediate: $80.87 per barrel (down $1.49 or 1.8%)
This weakness follows heavy selling pressure on Tuesday, with both major contracts posting losses exceeding 3%.