Oil Prices Drop Following Weeks-Long Climb

Oil prices fell today, Friday, after rising yesterday amid optimism about oil demand from China, and despite the decline, prices are still aiming for a weekly increase.

And by 12:51 Moscow time, futures for American oil fell by 0.23% to $77.98 per barrel, and futures for Brent crude oil fell by 0.29% to $84.50 per barrel.

Oil prices rose yesterday amid optimism about Chinese demand, with U.S. oil contracts closing at $78.16 a barrel and Brent at $84.75 a barrel.

During trading on Thursday, contracts for Brent oil rose to $85 per barrel for the first time since February 16, 2023.

Source: RT + Bloomberg

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