Oil drops slightly on investor's evaluation of market prospects

  07 August 2023    Read: 1737
Oil drops slightly on investor

World oil prices declined slightly on Monday morning amid investors' evaluation of market prospects and news from the past weekend.

AzVision.az reports citing the auction data that the price of October futures for Brent crude fell by 0.08% to $86.17 per barrel, and September futures for WTI dropped by 0.08% to $82.74.

Brent rose above $86 a barrel on Friday for the first time since April 17 amid a continuing rally in oil prices, which have risen 18% for Brent and 20.8% for WTI since the beginning of the summer, and since the start of the month both brands increased by 0.87% and 1.16% respectively.

On Monday, investors evaluate the news of the weekend. On Saturday night, the Sig tanker, which was on its way to the Kerch Strait, received a hole in the engine room near the waterline from the starboard side as a result of an attack by a sea drone. Later, Rosmorrechflot reported that the tanker was afloat after the damage, there was no environmental pollution.


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