Crude oil prices fall in global market

Moscow: Crude oil prices have recorded a decline in the international market.

According to the reports, oil prices continued to fluctuate in the global market due to the ongoing conflict in the Middle East and recorded a decline during early trading today (Friday).

Brent Crude Futures were down by 0.39 percent and settled at $82.12 per barrel, while US West Texas Intermediate Crude was down by 41 cents, or 0.5 percent and settled at $76.95 per barrel.

Earlier, the Energy Information Administration said that US crude oil inventories fell by 9.2 million barrels after weather affected crude oil production.

It is pertinent to note that after the ongoing war between Hamas and Israel, tension has also emerged in the Red Sea and commercial ships are being targeted by the Houthi rebels.

According to Western media reports, China has asked Iran to help prevent Houthi attacks on ships in the Red Sea or risk damaging trade ties with Beijing.