A global decrease in oil prices

Economy/International

21-01-2022, 14:38

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Baghdad-INA

Oil prices fell today, Friday, after they had risen this week to record levels not seen in 7 yearsrecorded since 7 years, and the decline came in light of an increase in crude and fuel stocks in the United States .

US West Texas Intermediate crude futures fell 2.2% to $83.67 a barrel, while Brent crude futures fell 1.89% to $86.71 a barrel, according to Bloomberg website data .

US data showed that gasoline stocks in the United States rose last week by 5.9 million barrels, while crude stocks increased by 515,000 barrels, and the increase came in violation of analysts' expectations .

Despite the drop in prices, analysts at the investment bank "Morgan Stanley" expect the price of "Brent" oil to rise to $100 per barrel by the third quarter of this year .

Source: agencies