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Oil prices drop as coronavirus caseloads rise

April 13, 2021
oil and gas

TOKYO: Oil slipped on Monday in thin trading as rising Covid-19 case numbers in some parts of the world kept a lid on prices, even as the Federal Reserve signalled the US economy may soon rebound as vaccinations accelerate. Brent was up 28 cents, or 0.4 per cent, at $62.67 a barrel by 0635 GMT, having risen to as high as $63.30 earlier. US crude was down 23 cents, or 04 per cent, to $59.09 a barrel, after rising as much as 46 cents earlier. Prices have changed little since a period of volatile trading ended last Monday.

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