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On June 20, according to media reports, international oil prices fell on Tuesday after China lowered both the one-year and five-year LPRs by 10 basis points. At present, the market focus is turning to Federal Reserve Chairman Powell’s congressional testimony later this week.
As of 10:30 Beijing time, both Brent crude oil and WTI crude oil fell slightly. Two policy makers of the European Central Bank advocated further interest rate hikes on Monday to deal with the risk of rising inflation.
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