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With supplies threatened by geopolitical unrest and demand rebounding across Asian economies, the crude benchmark Brent Oil has reached its highest level since October 2014.
Oil is in turmoil as the COVID-19 Omicron variant spreads. With the outlook for petrol demand uncertain, OPEC+ is set to meet today to discuss output.
Oil (CL) sank under $63 a barrel today, marking it the lowest drop since May. This fall came on the heels of the Fed signaling it would narrow asset purchases.
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