International oil prices surged sharply on the 16th
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As of the close of trading that day, the price of light crude oil futures for May delivery on the New York Mercantile Exchange increased by $3.40 to settle at $94.69 per barrel, a rise of 3.72%. The price of Brent crude oil futures for June delivery on the London market rose by $4.46 to close at $99.39 per barrel, an increase of 4.7%.
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