Oil drop to $79 a barrel

Economy

19-11-2021, 15:37

+A -A

Follow-up - INA

Trading data showed an acceleration in the decline in global oil prices, by about 3 percent, as the price of a barrel of Brent brand reached less than $79, for the first time since October 4.

The price of oil futures contracts, brand "Brent" for the month of January, decreased by 2.95 percent, to reach $78.84 per barrel.

While the price of West Texas Intermediate oil futures contracts decreased by 2.79 percent, to reach $76.22 per barrel.

Global oil prices have risen significantly since October 2021, with the price of a barrel of Brent crude on the 5th of last month exceeding $83 for the first time since October 10, 2018.

The price of West Texas Intermediate crude oil also crossed the level of $79 a barrel for the first time since November 2014.