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INPEX and Japan Petroleum Exploration plunge as WTI crude falls on hopes for end to Iran conflict◇
INPEX CORPORATION <1605> and Japan Petroleum Exploration Co., Ltd. <1662> fell sharply. U.S. crude oil futures were trading around $98 per barrel for the May WTI (West Texas Intermediate) contract in off-hours trading as of 9:00 a.m. Japan time on the 2nd. The settlement price (equivalent to the closing price) on the 1st was $100.12, down $1.26 from the previous day. Prices temporarily fell to the $96 range. President Trump was reported to have stated on the 1st that he would "withdraw from Iran fairly quickly." Expectations have grown for an early resolution to the military conflict in the Middle East, pushing crude oil prices lower. Trump is scheduled to deliver a speech at 10:00 a.m. Japan time on the 2nd (9:00 p.m. Eastern Time on the 1st), and the content of his remarks is drawing market attention.
Source: MINKABU PRESS
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