World oil prices decline amid uncertainty with US public debt

World oil prices show a decline due to uncertainty with the US public debt, Azernews reports.

According to trading data, the price of July futures for Brent Crude Oil is decreasing by 0.77 percent to $75 per barrel, and July futures for WTI — by 0.78 percent to $71.13.

The White House and the Republicans controlling the House of Representatives in Congress are continuing negotiations on raising the US public debt ceiling.

Speaker of the US House of Representatives Kevin McCarthy said he would meet with US President Joe Biden for talks on the issue later on Monday.

The continuing uncertainty around the prospects of public debt makes oil traders avoid risks, which leads to a decrease in oil prices.