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BRENT CRUDE
Brent crude lost about or 1.62 to trade at $42.04 per barrel.
Brent Crude lost about 0.62% to trade at $42.94 a barrel, at 6.05 am Nigerian time.
It appears that Brent is heading towards a weekly decline of about 2%.
International benchmark expected to average $40.50 per barrel this year.
Brent crude is the leading global benchmark for Atlantic basin crude oils.
Bonny light sold for $43.33, far below the price Nigeria sold its crude months ago.
Brent crude is the leading global benchmark for Atlantic basin crude oil.
There are fears the resurgence of the COVID-19 virus could stutter the demand recovery for energy.
To tackle weakened oil demand, OPEC and its major allies agreed to a record supply cut.
The oil market is stabilising amidst compliance of OPEC+ members with the agreement to cut oil production.
Brent crude is the leading global benchmark for Atlantic basin crude oils.
Brent crude is the leading global benchmark for Atlantic basin crude oils.