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Oil prices fell earlier today by more than 2 percent against the backdrop of a strong US dollar and data on a faster-than-expected decline in manufacturing activity in China. The Asian country is a leading importer of black gold, which is why investors fear a decrease in oil demand, Reuters reported. Later, black gold recovered a significant part of its today's losses.
Earlier today, Brent crude futures, whose price is a reference for the European market, fell 1.75 cents to $ 71.96 a barrel, but by 16:45 pm Bulgarian time rose to $ 73.14 a barrel.
U.S. light crude initially fell $1.90 to $67.56 a barrel, but by 16:45 p.m. its price had reached $68.70 a barrel.
Oil rose slightly.
Both price indicators lost more than 4 percent of their value yesterday, Reuters notes.