Brent oil is $73 and 23 cents
According to Mehr News Agency to Oil prices were little changed in the first hours of trading on Monday, after more than 7 percent over the past week on worries about demand in China, the world’s biggest oil importer, as well as easing concerns about disruptions. Middle East oil supply had decreased.
The price of a barrel of Brent North Sea oil today increased by 17 cents equal to 0.23% to 73 dollars and 23 cents. US Texas Intermediate West oil is trading at 69 dollars and 46 cents with 24 cents equivalent to 0.35% increase. Brent oil decreased by more than 7% and American oil by about 8% during the last week.
This was the biggest weekly drop in the price of these two oil indices since September 2nd, and the reason for this can be attributed to the slowing down of economic growth in China and the decrease in the possibility of disruption of the Middle East oil supply. US President Joe Biden said on Friday that there is an opportunity to treat Iran and the Zionist regime in such a way that these conflicts will end for a while.
