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Brent rise above $77 proves very short-lived
An update here yesterday noted how Brent crude for April delivery was on the rise above $77 per barrel, following the outcome of the latest OPEC meeting. Of course that was mainly due to the threat of US tariffs on Canadian oil dampening demand. Well, that rise proved to be very short-lived and the news regarding the reprieve for Canada on potential tariffs on oil exports to the US was the kicker for prices to slide. So, Brent for April delivery later settled just $0.29 higher on the NYMEX exchange, at $75.96. The price action so far today has seen Brent fall further and earlier it set a session low around $75.05 per barrel. It is not that much above the low just now, currently trading at $75.24
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