Sunday , May 16 2021

Oil prices fell on Wednesday



The price of the January contract for Brent crude oil fell by 43 cents.

Oil prices fell on Wednesday. This is due to the increase in oil production in the US and the release of some countries from sanctions against Iran, along with a well-supplied market appearance.

Washington re-imposed sanctions on Iran on Monday (November 5th), but eight countries granted 180 days for exemption from Iran's oil imports.

China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey take up to three quarters of Iranian oil exports by sea.

The West Texas Intermediate (WTI) barrel (159 liters) of deliveries in December was sold for 7.39 hours Central European time to $ 61.73 (54.02 euros). This is 48 cents less than the day before the end of trading.

The price of the January contract for the Brent oil mix fell by 43 cents to $ 71.70 per barrel.


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