Crude oil prices extended losses for a second day today, after President Trump said the United States would pause its plan to escort vessels out of the Strait of Hormuz just a couple of days after it was announced. The news prompted expectations that a peace deal may be in the making, pressuring Brent crude below $110 and West Texas Intermediate down from over $105 per barrel. At the time of writing, Brent crude was trading at 108.02 per barrel, and WTI was changing hands for $100.32 per barrel, having dropped below $100 during morning trade. “We…
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