Brent and Texas oil prices today, August 31: How much does it cost and how much does it cost?

After the week started to the upside, Oil prices are falling for the second day in a row.

On this Wednesday, August 31 Crude oil futures extend their decline Such as Investors are increasingly concerned about the poor state of the global economy.

Other major factors in lower prices Fears of a drop in oil demand by the Organization of the Petroleum Exporting Countries (OPEC) and Restrictions increase in China due to a new wave of Covid-19.

Currently, China is reducing its production of crude due to other factors that affected it. Including New restrictions from the COVID-19 virus, severe heat waves and a blockade of the real estate sector, indicating that the world’s second largest economy is experiencing weak growth.

“The latest signs of faltering growth are Chinese factory activity contracted in August, slower-than-expected expansion of the country’s service sectoranalysts expressed, according to information collected by TV newscasts.

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Brent and Texas oil prices today, August 31: How much does it cost and how much does it cost?

According to the latest update of Oil price chartsa famous site with more than 150 indexes and oil blends all over the world, For Wednesday, August 31 barrel of crude oil Brent crude is trading at $96.64while the equivalent in the United States, West Texas Intermediate (WTI) is $90.44.

their prices, compared to the previous day, At about the same time (14:00 ET), they were $100.12 for Brent and $92.63 for WTI. Which means that Prices fell by about three percent.

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