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Crude Oil Plunges as US Sanctions Outweigh Easing Tensions

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By Adedapo Adesanya  Crude oil slumped on Thursday as investors weighed mixed US economic data, US sanctions on Venezuela and Iran and easing tensions in the Middle East. During the session, Brent futures fell by 18 cents or 0.2 per cent to $87.11 per barrel, while the US West Texas Intermediate (WTI) crude futures went down by 4 cents or 0.1 per cent to $82.73 per barrel. In the US, the world’s largest oil consumer, the number of Americans filing new claims for unemployment benefits was unchanged at a low-level last week, pointing to continued labour market strength. Another report,