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Oil prices set for biggest decline since 2015

Dec 31, 2018 12:51 IST

Brent and WTI surged on the last trading day of 2018 on Monday, on hints of progress on the US and China trade deal, which has hit crude prices for most of the year. Crude was trading higher with Brent and WTI up but is on track for the biggest yearly decline in three years. Brent lost 20 per cent while WTI was down 24 per cent in 2018 but the downward pressure will not sustain from January when the OPEC-led supply cuts will commence.

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