Wednesday , June 29 2022

Palestinian News Today oil prices are falling


Palestinian news today, where oil prices fell on Tuesday, under the weight of sanctions exemptions granted by Washington to allow Iran's largest buyer of Iranian crude to continue imports from Tehran, as well as worries about economic slowdown to reduce the increase in fuel demand.

At 6:53 GMT, US WTI crude oil contracts were $ 62.90 a barrel, down 20 cents or 0.3 per cent from the previous settlement.

Brent oil fell 47 cents, or 0.6 percent, to $ 72.70 a barrel.

Analysts said the outlook for a slowdown in the economy in the coming months had a negative impact on fuel demand estimates, while supply concerns declined after Washington granted exemptions to eight Iranian oil importers, allowing them to continue buying.

Source: Sky News

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