Crude oil prices fall $3.33 after Biden suspends fuel tax

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Today (June 23, 65) reporters reported that crude oil futures in West Texas. Closed Wednesday (June 22) slumped $3.33 after it was reported that US President Joe Biden is set to propose a suspension of fuel taxes to tackle high oil prices in the United States.

West Texas Crude Oil Contract Delivered in Aug. Trading on the NYMEX was down $3.33 to close at $106.19 a barrel. north sea brent Delivered in Aug. It was down $2.91 to close at $111.74 a barrel. Both contracts hit their lowest levels since mid-May.

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