Tencent Securities News Beijing time on August 21 evening news, oil prices fell rapidly on Monday night, cloth oil fell more than 2%. Last week, oil prices soared, pushing investors to close their positions when oil prices were higher.
Brent October crude oil futures are down 2.11% to $51.61 a barrel. WTI October crude oil futures are down 1.60% to $47.88 per barrel.
“At the moment, we are seeing some investors taking profits and leaving the market. Last Friday, oil prices rose sharply before the weekly crude oil inventory data was released,†said Hans van Cleef, senior energy economist at ABN Amro. "The uncertainty about crude oil inventories and OPEC's production cuts may be enough for investors to sell some bullish positions."
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