On February 23rd, international crude oil futures closed down. The settlement price of the April WTI crude oil futures contract in the United States was $66.31 per barrel, a decrease of $0.17 or 0.3%. The settlement price of Brent crude oil futures for May was $71.11 per barrel, a decrease of $0.19 or 0.3%.

International crude oil futures prices fell by 0.3%, with both WTI and Brent contracts experiencing declines, reflecting market concerns about weak global crude oil demand or oversupply. This will have a negative impact on spot prices, as the futures market is a leading indicator of spot prices and spot prices may fall under pressure. The small decline indicates limited impact, therefore it is rated as generally bearish.

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