After the week started to the upside, Oil prices are falling for the third day in a row.
This Thursday, September 1 Oil prices continued to fall K China’s new lockdown raises concerns about rising inflation and raising interest ratesResulting in Fuel demand concerns.
“Demand for oil in the Western world as well as in China is stagnant, As the show expands more and more, thanks in large part to US shale oil boom“said the analyst Julius BayerNorbert Rucker, according to information collected by TV newscasts.
Along with China, The market is also watching the possibility of reviving the 2015 nuclear deal between Iran and the West. If it can be saved, it will allow The Organization of Petroleum Exporting Countries (OPEC) increased its production. According to Emmanuel Macron, President of France, The deal is expected to expire in the “next few days”.
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Prices of a barrel of Brent and Texas oil today, September 1: How much does it cost and how much does it cost?
According to the latest update of Oil price chartsa recognized website with more than 150 indexes and oil blends worldwide, For this Thursday, September 1, barrel of crude oil Brent is trading at $92.62, While the American equivalent, West Texas Intermediate (WTI) is $86.98.
Prices were the same as the day before, around the same time (1:00 PM ET) $96.64 for Brent and $90.44 for WTI. Which means that Both prices fell about four percent.