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Monday
23
Mar 2026
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Oil: Drops below $90 after rally toward $120

Crude oil prices fell sharply on Monday shortly after trading closed, after Donald Trump, President of the United States, said he is considering the possibility that the U.S. could take control of the Strait of Hormuz

2.5% drop in oil prices

Small weekly decline, with Brent closing at $74.43 and WTI at $70.40

Russia to cut oil output by 500,000 barrels per day in March

The West has put a ceiling on the prices of Russian oil and Russian oil products

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