Brent Crude Falls Over 14% to $96 a Barrel, WTI Drops 10%
The brief market update says global benchmark Brent crude declined sharply, while West Texas Intermediate, the main U.S. oil benchmark, also posted a steep fall.
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Terms & Concepts
Brent crude: A major global oil benchmark used to price much of the world’s crude exports.
West Texas Intermediate: A key U.S. oil benchmark, often called WTI, used as a reference price for crude markets.