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Oil Prices Plunge Below $84 per Barrel After Steep Overnight Decline

Global crude prices have fallen more than 30% since last night’s peak, signaling severe short-term volatility in the energy markets.

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Terms & Concepts
  • Crude Oil: A naturally occurring petroleum product refined into fuels like gasoline and diesel.
  • Barrel: A standard unit of measure for oil, equal to 42 U.S. gallons.
  • Commodity Market: A marketplace where raw materials such as oil, gold, or agricultural products are traded.