Oil drops as Middle Eastern exports rise
Oil prices declined today, Thursday, returning toward pre-war levels due to increased supplies from the Middle East. Brent crude traded at $72.52 per barrel, while West Texas Intermediate was at $69.32, both rising from their lowest levels since February. It is expected that the average prices will decrease in the third quarter to approximately $67 and $62 per barrel, respectively. This comes amid a surge in supply and Iran's preparations to boost its exports, leading to a decline in global shipping rates.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)