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Brent oil has fallen below $80 a barrel

By epicnews desk
Human Rights Watch warns of dire conditions for children in Ukrainian institutions

Brandtprice of oilIt fell below $80 a barrel on the 13th, the first time since early February, mainlySilicon Valley BankThe collapse made the international oil market more volatile.

Brent oil futures for May delivery fell $2.96 to $79.82 a barrel. WTI April futures closed down $3.03 at $73.65.

The collapse of the Silicon Valley bank shook global markets, affecting stocks and the US dollar. US authorities have announced emergency measures to strengthen confidence in the banking system and prevent a domino effect.

This year, international oil prices have been volatile due to the impact of the United States’ tight monetary policy and the recovery of the Chinese economy. Still, many market watchers remain bullish on long-term oil prices. Has happened; Saudi AramcoOilThe company estimates that by the end of this year, global crude oil demand will increase to 102 million barrels per day.

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