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WTI oil futures see biggest daily gain of 2019

by ChemOrbis Editorial Team - content@chemorbis.com
  • 21/06/2019 (09:39)
Oil prices saw a sharp increase on Thursday following reports that a US drone was shot down over the Strait of Hormuz by Iran’s revolutionary guards, escalating the already high tensions between Tehran and Washington.

The US benchmark West Texas Intermediate (WTI) crude for July delivery jumped $2.89/bbl to settle at $56.65/bbl on the New York Mercantile Exchange (NYMEX) on June 20. This marked the biggest single-session gain since December 2018.

International benchmark Brent crude posted an increase of $2.63/bbl to settle at its highest levels since May 31 at $64.45/bbl on ICE Futures Europe on the same day. This was also the largest one-day gain since January.
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