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LONDON: The price of the benchmark international oil contract Brent North Sea slumped more than five per cent on Friday as traders weighed the impact of fresh Middle East attacks on world crude supplies.
Brent dropped to $95.61 a barrel having surged above $100 on Thursday.
The main US contract, West Texas Intermediate, shed 4.1pc to $88.40 a barrel on Friday.
“Having advanced all week, oil prices finally ran into some profit-taking,” noted Chris Beauchamp, chief market analyst at trading platform IG.
