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Crude oil prices fall again in global market

Brent crude oil price decreased by 0.54 cents to $87.40 per barrel.

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11 months ago

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Crude oil prices fall again in global market
GNN Media: Representational Photo

Moscow: The prices of crude oil in the world market have decreased again.

According to international media, US crude oil West Texas Intermediate (WTI) fell 0.53 cents to settle at $85.85 per barrel, while Brent crude oil price decreased by 0.54 cents to $87.40 per barrel.

It is pertinent to note that due to the Israeli-Palestinian war, the prices of crude oil have increased by 5 percent in the world market during the last three days.

According to Saudi media, Brent crude rose $4.18, or 4.94 percent, to settle at $88.76 a barrel in Asian trade amid fears of possible supply disruptions from Iran due to increased Israeli-Palestinian tensions.

On the other hand, according to foreign media, organization of oil producing countries, Organization of the Petroleum Exporting Countries (OPEC) Plus has not made any decision immediately regarding the reduction or increase in oil production.

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