May 16, 2021 2:21 a.m.

Oil slipped on COVID-19 in India, weak crude import data from Japan

International benchmarks for crude oil fell 2% on Friday, 30 April 2021 as the COVID-19 outbreak in India continues to worsen while Japan’s crude import in the month of March 2021 fell 25%.

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International benchmarks for crude oil fell 2% on Friday, 30 April 2021 as the COVID-19 outbreak in India continues to worsen while Japan’s crude import in the month of March 2021 fell 25% from the year before. Industry sources said that the drop in oil prices is also a result of profit-taking during the month-end.

Brent settled at $67.25/barrel, down $1.31 or 1.95%.

WTI closed at $63.58/barrel, down $1.43 or 2.25%.