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Brent crude increased by 0.56 percent to $87.54 a barrel while US West Texas Intermediate crude rose 0.79 percent, to $83.83 percent, at 20.00 WAT.
This is above the $77.96 per barrel the federal government benchmarked as oil price in the 2024 budget.It is also higher than the $65 per barrel used by the Nigerian National Petroleum Company Limited to calculate the allocated crude in the $3.3 billion crude-for-cash loan agreement with African Export-Import Bank .
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