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The average price of Brent crude oil for May 2025 decreased by 22.9% year-on-year and 3.8% quarter-on-quarter to US$64.01 (RM270.78) per barrel, according to MIDF Research. Year-to-date in 2025, Brent crude oil prices are 11.1% lower compared to the 2024 average. This marks a significant drop in oil prices.
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