Saturday, January 22, 2022

Crude oil drops as investors cash in on recent rally

Crude oil today dropped as investors cashed in on a recent rally. However, market sentiment remained solid on hopes for a quick recovery in oil demand in the U.S. and European markets. Fading expectations for an early return of Iranian crude also capped the losses.

In intra-day trade, Brent crude prices were trading around USD 74.40 per barrel while WTI crude prices were around USD 73.20 per barrel.

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