Oil prices are falling after the statements of the US Secretary of Energy

Economy

24-03-2023, 18:27

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Baghdad-INA

Oil prices fell for the second day in a row, by more than 2%, after statements by the US Secretary of Energy.

By four o'clock in the afternoon, Baghdad time, Brent crude futures fell, recording $ 74.07 a barrel, while West Texas Intermediate crude futures fell, recording $ 68.28.

The US Energy Secretary Jennifer Granholm confirmed earlier in the day that refilling the US strategic oil reserves may take years, which caused a decline in prices due to fears of a possible oversupply.Oil prices fell for the second day in a row, by more than 2%, after statements by the US Secretary of Energy.

By four o'clock in the afternoon, Baghdad time, Brent crude futures fell, recording $ 74.07 a barrel, while West Texas Intermediate crude futures fell, recording $ 68.28.

The US Energy Secretary Jennifer Granholm confirmed earlier in the day that refilling the US strategic oil reserves may take years, which caused a decline in prices due to fears of a possible oversupply.