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The price of Brent crude futures with delivery in January on the London ICE exchange fell below $83 per barrel for the first time since August 25, according to exchange data. Yesterday evening the Brent price dropped by 2.24% to $82.97 per barrel.
The futures contract was trading at $82.95 per barrel (-2.26%). The price of a futures contract for WTI oil with delivery in January fell by 1.81% to $78.63 per barrel. The exchange futures contract is a deliverable contract based on EFP delivery with an option to cash settle.
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