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Qatar Energy Cuts Crude Oil Selling Prices in August at Fastest Rate Since Supply Crisis Easing
QatarEnergy has lowered the prices of its two crude oils for August by the largest margin since the easing of supply disruptions, setting the price for Qatar Marine crude at a discount of $5 per barrel compared to Oman/Dubai benchmarks. It also reduced the price of its domestic crude by a discount of $4.50. This comes after increased supplies from the Middle East and a decline in the spot oil market. Currently, oil prices are rising, with Brent and West Texas Intermediate crude gaining up to 6% weekly, amid concerns over potential disruptions to Middle Eastern supplies.
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