The international oil market is experiencing a renewed downward trend, largely influenced by optimistic signals regarding a potential nuclear agreement between the United States and Iran. Over a single day, the price of crude oil has dropped by more than one dollar, indicating increased market volatility and unexpected shifts.
According to a report by the trading economics analysis firm, Brent crude oil opened the day at a 2.16 percent decline, trading at $64.66 per barrel. This decrease has contributed to a significant drop in global oil prices over the past week.
Similarly, in the US market, West Texas Intermediate crude oil prices have fallen by 2.30 percent, currently trading at $61.70 per barrel. This decline underscores how geopolitical tensions and uncertainties continue to influence the volatility of energy prices.
In addition to crude oil, natural gas prices are also showing signs of instability. Market analysts predict that demand for natural gas will further decrease over the next two weeks. Today, natural gas prices have fallen by 0.80 percent, reaching $3.46 per MMBtu, with a week-over-week decline of 3.72 percent.
Overall, the combination of global economic uncertainties, geopolitical tensions, and ongoing speculation about energy agreements has contributed to this oscillation in energy prices. Analysts warn that if such volatility persists, it could pose risks to global economic stability in the coming months.
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