Oil prices are approaching July lows 19:52

The barrel price of Brent oil fell below $75 for the first time since July 6, 2023. This is evidenced by trading data on the ICE exchange.

It was noted that as of 19:19 Moscow time, the price of February futures contracts fell to 75.8 dollars per barrel (-3.17%). At the same time, the cost of January futures contracts for WTI fell 3.87% to $69.52. In general, the decline in world oil prices to 3% accelerated.

Oppression Bloomberg He attributed the price decline in oil futures to concerns about oversupply in the market. US oil exports are approaching a record level of 6 million barrels per day, according to tanker tracking companies.

Despite OPEC+’s decision to further reduce production, traders remain skeptical about the willingness of cartel countries to comply with the deal. The agency writes that even the US Department of Energy’s report on the 4.63 million barrel decrease in oil reserves could not stop the decline.

Before that the United States in the name G7 countries will limit Russia’s ability to export oil.

Previously in the USA said About the “hole” in oil sanctions against Russia.

Source: Gazeta


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