Decrease in the price of oil in the world market

to report

Brent oil decreased by 36 cents to $86 and 24 Cents per barrel were traded. The price of Texas WestIntermediate oil also decreased by 57 cents to 82 dollars and 81 cents. reached in each barrel.

Hurricane Beryl, which is on the fourth level of intensity, has affected the Caribbean region. However, predicted the intensity of this storm will be reduced when it reaches the Gulf of Mexico (one of the important oil centers) and will cause a disturbance in the oil extraction process from this region. Don’t.

Estimates indicate that the amount of American commercial oil reserves will witness a decrease in the new report of the Energy Agency, which can help increase the price of oil in the energy market. .

Market analysts say that with the start of the travel season in the Northern Hemisphere, the demand for crude oil and gasoline will increase, which will help strengthen the price of black gold in the market.