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Decrease in oil prices.. Brent records 75.89 dollars per barrel
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Baghdad today - follow-up
Oil prices fell today, Thursday, after three sessions of gains, after Jerome Powell, Chairman of the Federal Reserve (US Central Bank), renewed his commitment to curb inflation, including the possibility of raising interest rates again.
And by 0009 GMT, Brent crude futures fell 80 cents, or 1 percent, to $ 75.89 a barrel, and West Texas Intermediate crude futures fell 84 cents, or 1.2 percent, to $ 70.06 a barrel.
Both benchmarks reached their highest closing levels since March 14, in a settlement on Wednesday.
Powell said on Wednesday that banking sector pressures could lead to a credit crunch, with "obvious" implications for the US economy, which Fed officials expect to slow more than expected earlier this year.
The US banking crisis caused volatile trading in risky assets such as oil over the past week, with investors anticipating the US central bank's rate hike decision on Wednesday.
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