HomeEconomyOil prices fell to...

Oil prices fell to an eight-month low

Since the beginning of this week, Brent has fallen in price by 5.73%, WTI – by 7.25%. Oil prices fell for the fourth straight week for the first time since December last year.

The world’s benchmark oil price fell sharply on the last working day of the week. This was confirmed by the trading data on the evening of Friday, September 23.

Thus, the futures price for Brent crude oil for November delivery on the London ICE Futures exchange fell by 4.99% to $85.95 per barrel. The price of Brent fell below $86 per barrel for the first time since January 24 this year.

In turn, the futures price for WTI crude oil for November delivery on the New York Mercantile Exchange fell 4.80% to $78.69 a barrel. This is the lowest price since January 11th.

Since the beginning of this week, Brent has fallen in price by 5.73%, WTI – by 7.25%. Oil prices fell for a fourth straight week for the first time since December.

According to market analysts, commodity prices are falling on fears of a global recession. This week, the central banks of several countries raised their discount rates. The US Federal Reserve raised the rate by 75 basis points – up to 3-3.25% per annum. The Bank of England raised the rate by 50 basis points to 2.25%, the Swiss National Bank – by 75 basis points to 0.5% per annum, setting a positive discount rate for the first time since 2014.

India has drastically reduced oil purchases from Russia after the visit of US officials

News from Correspondent.net on Telegram. Subscribe to our channel Athletistic

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The President signed the Law on 50% of the Motagrass for Veterans

The President of Ukraine signed a law that reduces the cost of a motorcycle by 50% for veterans and persons with disabilities as a result of the war (No. 4369-IX). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...

GBI was struck by anger, the requirement of short -term reconciliations of SOC without Boytsov’s order

Employees of the State Bureau of Investigations exposed military personnel in the Nikolaev area, who demanded that the military left some of the military in exchange for returning to the service. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height:...

In Priluki, the Cisland arrived at the post of drone in his house, where he was killed

The rescuer arrived in Pryluky to eliminate the effects of a drone that fell into his house, where his family was killed. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } ...