Despite weaker US dollar, crude oil prices fell for a second consecutive day amidst concerns over Iranian supply. The front-month WTI contract fell to as low as 48.21 before ending the day at 48.45, down -1.5% whilst the Brent contract dropped -1.53% to settle at 55.27. In response to questions over the type of oil in Iran’s floating storage, the government noted that it is condensate and fuel oil, not crude.
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Crude Fell Further amidst Concerns over Iran’s Oil Storage
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