After the rise in oil prices for five consecutive weeks, "black gold" began to fall in price.
The beginning of the new working week on the oil market was marked by a turning point: the prices of benchmark grades of oil began to fall after rising for 5 weeks. The price of the benchmark type of oil, North Sea Brent, on the London ICE Futures exchange fell to 84,3 US dollars per 1 barrel. Thus, compared to the indicators of Friday, July 28, prices for this type of raw material fell by 0,7%.
In turn, the futures price of another reference brand, Texas WTI, on the electronic trading of the New York Mercantile Exchange this morning decreased by $0,37 and amounted to $80,2 per barrel.
At the same time, according to new data, the prices of both marker types of oil returned to their former values in the afternoon. Nevertheless, financial analysts, looking at today's situation in the oil market, suggest that there may now be a turning point, after which prices will drop even lower.
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