The world price of oil today, July 23; Brent was 85 dollars and 3 cents

reported Mehr News Agency quoted Reuters, the price of oil has decreased to some extent. Investors are looking at the level of consumer optimism about the state of the economy amid increasing hopes of a US Federal Reserve interest rate cut in September.

The price of a barrel of Brent North Sea oil today decreased by 37 cents, equivalent to 0.43%, to 85 dollars and 3 The tradition arrived. Texas Intermediate oil West also decreased by 41 cents, equivalent to 0.50%, to $82 and 21 cents are traded.

The price of Brent crude oil has decreased by 1.7% during the last week after two weeks of increase. American oil also experiences a weekly price drop of 1.1% and the lowering of interest rates strengthens economic growth and increases fuel consumption.

U.S. gasoline demand reached 9.4 million barrels per day in the week ending July 5, according to government data, the highest figure since 2019 for a holiday week. America becomes independent. The monthly demand for airplane fuel has also reached the highest figure since January 2020.

Increasing demand for fuel forced American refineries to intensify their activity and withdraw from oil reserves. The consumption of crude oil by US Gulf refineries last week increased for the first time since January 2019. It reached 9.4 million barrels per day.