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Inflation Panic Mode

West Texas Intermediate futures slid 3.4% as data showing a sharp economic contraction in the world’s top oil importer outweighed growing expectations that Europe may agree to curb crude purchases from Russia. Beijing is set to close gyms and cinemas over the Labor holiday that lasts through Wednesday, and Shanghai will keep virus measures in place.

Oil price slumps as Joe Biden pushes for US fuel cost cuts

June 22, 2022

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