
Crude oil prices decreased due to profit taking
Due to profit-taking, crude oil prices declined 2.17% to close at 7,623 after surging due to surprise declines in crude stocks. According to U.S. government data, oil stockpiles decreased by 2.2 million barrels more than expected, highlighting supply limits brought on both Saudi Arabia and Russia’s output curbs. Particularly, oil supplies dropped by 943,000 barrels…