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2023.10.2313:00:00UTC+00Crude Oil Prices Decline Amidst Middle East Diplomatic Efforts

Crude oil prices slipped on Monday amidst renewed diplomatic efforts to spotlight and address the humanitarian concerns of the Middle East conflict. The drop in prices comes amidst a delay in a ground level attack that is feared to widen the scope of the conflict.

Brent Oil Futures for December settlement is currently trading at $91.96, having declined 0.22 percent from the previous close. The day's trading ranged between $91.08 and $92.44, versus the 52-week trading that ranged between $70.06 and $99.56.

Brent Oil Futures had touched a high of $97.69 in the past month and a high of $93.79 after the outbreak of the conflict on October 7.

West Texas Intermediate Crude Oil Futures for December settlement also lost 0.36 percent from the previous close of $88.08 to trade at $87.76. Prices ranged between a high of $88.23 and a low of $86.84. The 52-week trading range was between $63.64 and $95.03.

WTI Crude had touched a high of $95.03 in the past month and a high of $90.78 after the outbreak of the conflict on October 7.

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