The focus of the market this week is the meeting of the US Federal Reserve, as a result of which the base interest rate may rise again significantly.
World prices for benchmark oil grades are falling on the fears of market participants about the prospects for economic growth and demand for energy resources. This was confirmed by trading data on the morning of Monday, July 25.
Thus, at 09:20 Kyiv time, September futures for Brent on the London ICE Futures exchange decreased by $1.49 (1.51%) to $96.89 per barrel.
The price of WTI futures for August in the electronic session on the New York Mercantile Exchange (NYMEX) decreased by $1.53 (1.62%) to $93.17 per barrel.
Today the spread between the current contracts for Brent and WTI is $3.72 in favor of Brent.
The focus of the market this week is the meeting of the US Federal Reserve System, as a result of which the Fed may again significantly increase the base interest rate. A serious tightening of monetary policy by the Fed, according to many experts, could lead to a recession in the US economy.
By early July, oil prices had fallen below $100 a barrel twice. Each time this happened against the backdrop of fears of a recession in the global economy.
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Source: korrespondent
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