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For the third day in a row, oil prices continue to decline, and the rate reaches 1%

Rocky

Rocky: Admin Assist; Posts : 280492
Join date : 2012-12-21

Post n°1

For the third day in a row, oil prices continue to decline, and the rate reaches 1%

by Rocky Thu 16 Dec 2021, 7:14 am

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For the third day in a row, oil prices continue to decline, and the rate reaches 1%

Shafaq News/ Oil prices fell for the third day in a row on Wednesday due to growing expectations that supply growth will outpace demand growth next year, although the Omicron Corona virus variable is not seen as limiting mobility as sharply as the previous variants of COVID-19 .
West Texas Intermediate crude futures were down 82 cents, or 1.2%, at $69.91 a barrel at 0413 GMT, after losing 56 cents in the previous session.
Brent crude futures fell 71 cents, or 1 percent, to $72.99 a barrel, after losing 69 cents on Tuesday.
Both contracts fell by more than $1 earlier in the session while the monthly spot spread for Brent crude inverted briefly on Tuesday.
On the other hand, the Organization of the Petroleum Exporting Countries (OPEC) on Monday raised its forecast for global oil demand for the first quarter of 2022.
In another bearish indication, industry data showed that US crude inventories did not decline last week as much as expected.
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For the third day in a row, oil prices continue to decline, and the rate reaches 1%

For the third day in a row, oil prices continue to decline, and the rate reaches 1%

For the third day in a row, oil prices continue to decline, and the rate reaches 1%

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