TODAY.AZ / Business

Oil prices decline in World markets

02 September 2024 [11:13] - TODAY.AZ

The price of oil has decreased in global markets, reflecting ongoing uncertainties and fluctuations in supply and demand.

According to Azernews, the price of a barrel of "Brent" crude oil on London's InterContinental Exchange Futures (ICE) fell by $0.57, settling at $76.36. Similarly, the price of a barrel of "Light" crude oil on the New York Mercantile Exchange (NYMEX) dropped by $0.48, reaching $73.07.

It is noteworthy to add recent trends in oil prices have been affected by concerns over potential economic slowdowns, shifts in demand from key consumers, and production adjustments by OPEC+.

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