KYIV. Ukraine Gate . 15 . August .2022 l Economy.
Futures for Brent crude oil with delivery in October on Monday morning during trading fell in price to $ 97.07 per barrel .
According to Bloomberg, as of 8:35 a.m., the cost of Brent crude futures fell by 1.10%.
At the same time, the price of September futures for WTI crude oil fell to $ 91.11 per barrel, losing 1.06%.
Details
Oil prices fell on Monday as China’s weak economic data raised demand fears from the world’s largest oil importer, and the head of the world’s largest exporter Saudi Aramco said it was ready to increase production to a maximum capacity of 12 million barrels per day, Reuters said.
Thus, China’s economy unexpectedly slowed down in July, and refining volumes fell to 12.53 million barrels per day, the lowest level since March 2020, according to government data.
Oil prices rose more than 3% last week.
Source: Ukrgate
