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Oil prices slightly drop after sharp fall the day before, and Brent is at $72.82 a barrel

03.08.2021,11:20


August 3, Fineko/abc.az. Oil prices are slightly decreasing in Tuesday’s trading after fall more than by 3% following the previous trading.

There are fears at the oil market that the rapid spread of new Covid-19 Delta strain in Asian countries, including China, will force the introduction of new quarantine restrictions, that will weaken the economic recovery and demand for oil.

By 9:00 am, at the London ICE Futures Exchange the October’s Brent crude futures fell by $0.07 (0.10%) to $72.82 per barrel. Following the trading on 2 August the Brent oil futures for October fell in price by $2.52 (3.34%) to $72.89 per barrel.

By 9:00 am, at the New York Mercantile Exchange (NYMEX) the price of the September’s WTI oil futures fell by $0.07 (0.10%) to $71.19 per barrel. Following the trading on 2 August the WTI futures for September fell in price by $2.69 (3.64%) to $71.26 per barrel.