World oil prices fall by more than 7%
WASHINGTON (Daily Pakistan Online): Crude oil prices have fallen by more than 7% in the global market. British Brent crude fell nearly 6.5 percent to 10 10.79 a barrel. US crude oil West Texas Intermediate (WTI) fell 7.1 percent. It fell ڈالر 7.74 to 1 101.78 a barrel. The drop in oil prices comes after US President Joe Biden announced a three-month tax cut on petroleum product prices. He plans to exempt US citizens from taxing petroleum products, for which he may soon make a proposal to Congress.