For the first time since the end of February, WTI oil fell below $90 per barrel, Brent fell to $95.
The price of American WTI oil at the auction on Thursday, August 4, fell below $ 90 per barrel – this is the lowest since the end of February, writes Bloomberg.
function news4502303() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4502303&lang=2&IsAjax=true’, function (data) { $(‘#nk4502303’).html(data); });
}
news4502303();
The fall in prices is associated with a reduction in demand for oil due to the impending collapse of the world economy and an increase in interest rates by the US Federal Reserve.
Oil is getting cheaper on data with US gasoline stocks rising last week by 4.47 million barrels.
The price of October futures for Brent on London’s ICE Futures exchange fell by $1.67 (1.73%) to $95.11 per barrel.
The futures price for WTI for September in electronic trading on the New York Mercantile Exchange (NYMEX) was down $1.3 (1.43%) at $89.36 per barrel.
On the eve of OPEC + member countries agreed to increase oil production in September by 100,000 barrels per day instead of the planned increase in production in August by almost 650,000 barrels.
News from Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.