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<Commodity>NY Oil Futures Plunge 17% from Peak, Below USD100/ bbl; DJIA Futures Narrow Losses to Under 500Pts
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The tense situation in the Middle East, with the blockade of the Strait of Hormuz, prompted production cuts by several oil-producing countries in the region. This morning (9th), New York oil futures once leapfrogged by 30% to over USD119 per barrel. The G7 and the IEA are reportedly set to meet to discuss releasing oil reserves. New York oil futures for April delivery once rose to USD119.48 per barrel, and then sharply retreated from the peak. It last quoted at USD99 per barrel, up 8.9%. Brent oil futures for May delivery once hiked to USD119.5 per barrel, and last quoted at USD102.79 per barrel, up 10.9%. DJIA futures today once stumbled over 1,000 points; with narrowing losses, it last quoted at 47,018, down 499 points or about 1%. S&P 500 futures and Nasdaq futures narrowed losses to 0.9% and 1%, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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