Oil prices dropped for a second consecutive day early on Wednesday as the markets were spooked by concerns about above-target inflation and participants showed risk aversion to commodities. As of 9:22 a.m. EDT on Wednesday, ahead of the weekly EIA report on U.S. crude oil inventories, WTI Crude was falling by 2.79 percent, trading at $63.70. Brent Crude had retreated to $66.92, down by 2.53 percent on the day, after briefly surpassing the $70 a barrel threshold early on Tuesday. Brent failed to hold on to the $70 handle yesterday as reports of…
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