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IMF: Oil Prices Near April Levels

IMF: Oil Prices Near April Levels

The International Monetary Fund stated that oil prices are still only about 3% higher compared to the levels it based its main global growth forecast on in April, as Brent crude fell to around $86.18 per barrel. Its forecast is based on an average oil price of $82.22 per barrel, with price stability depending on the reopening of the Strait of Hormuz, ongoing market volatility, and a decline in global reserves.

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