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Oil jumped more than 5% on intensifying supply concernsOil jumped more than 5% on intensifying supply concerns |
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International benchmarks for crude oil extended the rally on Wednesday, 23 March 2022 on intensifying concerns over the global supply tightness after exports from Kazakhstan were disrupted after a storm damaged the Caspian Pipeline Consortium (CPC) terminal in the Black Sea.
Brent gained $6.12 or 5.3% to close at $121.60/barrel.
WTI rose $5.66 or 5.2% to close at $114.93/barrel.
