Thursday , February 2 2023

Oil prices also declined on Wednesday


The price of the January Brent crude oil contract fell by 43 cents.

Oil prices also declined on Wednesday. The reason for this is the rise in oil production in the USA and the release of some countries from sanctions against Iran along with prospects for market prospects.

Washington reopened on Monday (November 5th) sanctions against Iran, but granted eight countries 180 days of oil import exemption from Iran.

China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey occupy three-quarters of Iran's oil exports by sea.

Barrel (159 liters) of US light oil West Texas Intermediate (WTI) with delivery in December was sold for 7.39 hours CET on Wednesday at 61.73 dollars (54.02 euros). This is 48 cents less than the previous day at the end of the deal.

The price of the January contract for the crude oil blend Brent dropped 43 cents to $ 71.70 a barrel.

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