New York oil prices fall for the second straight day, WTI 84.88 dollars to 2month low
New York oil prices fell sharply for the second consecutive day. 6 month 12 day WTI closed at 84.88 dollars per barrel, marking the lowest level for the front-month contract in about two months since 4 month 17 day. Oil prices fell amid expectations of a ceasefire agreement between the United States and Iran.
New York oil prices fell sharply for the second consecutive day. Investors are paying attention because fluctuations in crude oil prices can directly affect costs and profitability in related industries.
Local time, on 6 month 12 day, concerns about supply and demand eased as expectations grew that a ceasefire agreement between the United States and Iran was drawing closer.
7 month West Texas Intermediate crude oil (WTI) fell 2.83 dollars from the previous session to finish trading at 84.88 dollars per barrel.
Based on the closing price of the front-month contract, today's close was the lowest level in about two months since the close on last 4 month 17 day at 83.85 dollars.
The Brent crude oil 8month contract 3.05ended the session down 87.33 dollars at dollars per barrel.
WTI fell 3.23% on the day, while Brent dropped 3.37%.
WTI and Brent declined together for 2consecutive trading days.
WTI is an oil price benchmark based on trading standards in the United States, while Brent crude is the international benchmark oil price for the European and Asian markets. International crude oil prices are linked to the prices of refined products such as gasoline and jet fuel.
It was reported that expectations of a deal being reached as early as within a few days influenced the decline.
Sources: 연합인포맥스
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