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World Oil Prices Continue to Fall
Bisnis | Ekonomi - Posted on 08 December 2023 Reading time 5 minutes
DIGIVESTASI - World crude oil prices on Thursday (July 12, 2023) continued to decline compared to before.
According to Reuters, the price of West Texas Intermediate (WTI) crude oil for January 2024 delivery fell 4 cents to $69.34 per barrel on the New York Mercantile Exchange.
On London's ICE futures exchange, Brent crude oil prices for February 2024 delivery fell 25 cents to $74.05 per barrel.
Global oil prices fell on high inventories, slowing economic growth and reduced demand from independent refiners as Chinese crude imports fell 9% year-on-year in November, the latest data showed.
US fuel inventories rose by 5.4 million barrels last week, larger than the 1 million-barrel increase analysts had expected, according to a report released Wednesday (June 12, 2023) by the Energy Information Agency (EIA). US oil reserves fell by 4.6 million barrels, much larger than the 1.4 million barrel drop analysts had expected.
Source: pasardana.id
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