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Thursday, March 26, 2015
10 Sunni Nations are attacking the Houthis in Yemen by Air
Brent surged 4.8 percent and West Texas Intermediate
climbed for a fifth day. Saudi Arabia led a coalition of 10
Sunni-ruled nations in airstrikes against Shiite Houthi
positions after an appeal from Yemen’s President Abdurabuh
Mansur Hadi. The 10 countries produced about 21 million barrels
of oil a day in October, or 22 percent of global supplies,
according to Energy Information Administration data.
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Brent, the benchmark index for global crude oil prices, plunged by $1.28 to $61.8 per barrel and it was at $61.3 earlier in March. Future of Brent (LCOc1) climbed 18% last month, which is the highest monthly increment in almost six years.
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