Oil prices fall on the international market

INA-source
Oil prices are currently down on the international markets, but are on their way to a weekly gain of around 4%.
West Texas Intermediate (WTI), the benchmark for the US market, is down 0.15% to 81.14 dollars per barrel. Meanwhile, Brent North Sea crude, traded in London and the benchmark for European imports, fell 0.18% to 85.27 dollars.
 
This upward movement is being sustained by an optimistic revision by the International Energy Agency of demand forecasts for 2024. In addition, an unexpected decline in crude stocks in the United States also contributed to the positive scenario.
 
Demand for oil is expected to continue to grow as the global economy recovers. However, the recent escalation of geopolitical tensions and the uncertainty surrounding oil production in some exporting countries have also impacted prices.
 
It is important to note that, despite the slight momentary drop, oil prices are relatively high compared to recent months, reflecting investor confidence in the economic recovery and demand for energy.
 
Source- profile.co.mz