Oil Prices Extend Biggest Weekly Decline Since 2020 as Brent Falls Towards $97
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The reference variety Brent cost 96.76 US dollars per barrel at the start of the week.
Oil prices fell in early trading on Monday. Brent crude was down 64 cents, or 0.64%, at $97.67 a barrel by 11:34 GMT, while West Texas Intermediate crude fell 35 cents, or 0.40%, to $90.51 a barrel. Brent briefly dipped by more than a dollar a barrel.
Oil prices extend biggest weekly decline since 2020 as Brent falls towards $97
Oil prices extended their steepest weekly decline since April 2020 on Monday, with Brent crude falling towards $97 per barrel after losing more than 16% last week, as hopes of a diplomatic resolution to the US-Iran conflict eased concerns over potential supply disruptions.
A barrel (159 litres) of the reference variety Brent from the North Sea with delivery in January cost 96.76 US dollars at the start of the week and therefore a good 1.5 percent less than on Friday.
Oil prices dropped noticeably on Monday. A barrel (159 liters) of the reference Brent from the North Sea with delivery in January cost 96.76 US dollars (86.66 euros) at the start of the week and therefore a good 1.5 percent less than on Friday. Following the strongest week loss since April 2020 last week, hopes for a diplomatic [...]
Oil prices dropped noticeably on Monday. A barrel (159 liters) of the reference Brent from the North Sea with delivery in January cost 96.76 US dollars (86.66 euros) at the start of the week and therefore a good 1.5 percent less than on Friday. Following the sharpest loss of the week since April 2020 last week, hopes for a diplomatic solution to the US-Iran war burdened the quotations on Monday.
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