The world price of oil today, October 24; Brent fell
reported by %20%0A
Both of these oil indices fell 3% in the first hours of trading on Tuesday after falling 2% on Monday.
The price of a barrel of Brent North Sea oil today decreased to 75 by 2 dollars and 35 cents, equivalent to 3.03%. Dollar and 11 cents arrived. Texas Intermediate oil West also decreased by 2 dollars and 26 cents, equivalent to 3.06%. 71 dollars and 57 cents are traded.
Prices have fallen by about $4 since the beginning of this week, while they had risen for 7 consecutive days until last Friday due to concerns about an attack on Iran’s oil facilities by the Zionist regime.
The Washington Post reported on Monday that Israeli Prime Minister Benjamin Netanyahu told the United States that he does not intend to target Iran’s nuclear or oil facilities.
On Monday, OPEC lowered its outlook for global oil demand this year and next year.
This is the third month in a row that OPEC has lowered its outlook for oil demand. On the other hand, Iraq has not made any progress in reducing the production that it promised to OPEC to compensate for its production surplus in the past months.
Another factor affecting the price of oil has been the decrease in crude oil imports to China as the world’s largest oil importer. This happens for the first time in the first 9 months of this year. Information shows that China’s oil import has decreased by about 3% compared to last year.
OPEC lowered the demand growth forecast in China from 650,000 barrels per day to 580,000.
The anti-inflationary pressure in China has intensified and investors cannot make any predictions about the amount of fiscal stimulus that will be introduced to revive the world’s second largest economy.
