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Oil fell on fear of rising COVID-19 in Asia, inflation risksOil fell on fear of rising COVID-19 in Asia, inflation risks |
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International benchmarks for crude oil fell sharply on Wednesday, 19 May 2021 as investors fear softer demand in Asia after a new wave of COVID-19 infection in India, Malaysia, Vietnam, Thailand, and Taiwan prompt new movement restrictions. Meanwhile, higher risks of inflation discourage traders from exposing to risky assets.
Brent closed at $66.66/barrel, down $2.05 or 3.08%.
WTI closed at $63.36/barrel, down $2.13 or 3.36%.
