The global price of oil fell
According toMehr News Agency to According to Reuters, the trend of decreasing oil prices continued on Monday. The threat of disrupting US oil supply due to the storm has subsided and new economic stimulus from China has left investors disappointed about the growth in demand for fuel in the world’s second largest consumer.
The price of a barrel of Brent North Sea oil today decreased by 19 cents equal to 0.26% to 73 dollars and 68 cents. US Texas Intermediate West oil is traded at 23 cents, equivalent to 0.33%, a decrease of $70 and 15 cents.
Both of these oil indices decreased by more than 2% on Friday.
Oil consumption in China as the biggest driver of growth in global demand in recent years has had a slight growth in 20244 which is the result of the weak growth of this country’s economy. Gasoline consumption in China has decreased due to the rapid growth of the use of electric vehicles and the replacement of liquefied natural gas with diesel as truck fuel.
