Oil Market Update : Epic Research Singapore

Oil prices settled lower on Thursday, retreating from their highest levels of the year reached a day earlier, as doubts emerged over a potential meeting this month between crude producers regarding a freeze in output.

April West Texas Intermediate crude CLJ6, +2.22%  shed 45 cents, or 1.2%, to settle at $37.84 a barrel on the New York Mercantile Exchange. It pared its decline as the U.S. dollar moved sharply lower.

May Brent crude LCOK6, +1.90%  on London’s ICE Futures exchange declined $1.02, or 2.5%, to $40.05 a barrel.

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