Oil prices accelerated their decline on concerns about excess supply and uncertainty in US foreign trade policy, Interfax-Ukraine reports.
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By 13:31 Kyiv time, May Brent futures were down $0.82 (1.15%) on the London ICE Futures exchange to $70.22 per barrel. April WTI futures were down $1.1 (1.61%) on the NYMEX exchange to $67.16 per barrel.
Brent ended the preliminary session at its lowest since November, WTI at its lowest since December. On Tuesday, Brent quotes fell to an intraday low since September last year.
OPEC+ countries confirmed their previous plans to gradually phase out voluntary oil production restrictions and begin a gradual increase in production from April. The increase in production will continue until September 2026.
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