Global Oil Prices See Minor Drop
Date
7/23/2024 3:09:25 AM
(MENAFN- AzerNews)
Nazrin Abdul
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In the latest trading sessions, global oil prices have seen a
slight decline, Azernews reports.
On the ICE London Intercontinental Exchange, the September 2024
contract for brent crude oil decreased by 0.02%, settling at $82.38
per barrel.
In parallel, on the NYMEX commodity exchange in New York, the
price of WTI (West Texas Intermediate) crude oil for September
delivery fell by 0.1%, bringing the price to $78.32 per barrel. WTI
is the primary benchmark for oil prices in North America and is
known for its role in the pricing of crude oil in the U.S.
market.
This subtle dip reflects ongoing market adjustments as investors
react to a range of factors including geopolitical tensions,
economic data releases, and changes in global oil supply and demand
dynamics.
Brent crude oil, one of the major global benchmarks, is often
used as a reference for the pricing of oil across Europe, Africa,
and the Middle East. Its price movements are closely watched as
they can influence global oil market trends and economic
conditions.
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