Friday , October 7 2022

Oil prices have been falling for 10 consecutive days.


London's oil prices are likely to continue to rise and record the longest continuous daily decline.

According to Bloomberg News, New York's oil futures market fell for the 10th consecutive day, according to Bloomberg News. According to Bloomberg News, the price of "black gold" has fallen more than 20 percent from the beginning of October.

US light crude (WTI) for December delivery fell to $ 59.60 from $ 1.07 on the New York Mercantile Exchange. The WTI fell 1.6% on Thursday and is close enough to end this week with a 5.6% loss for the fifth week in a row.

Total trading volume increased about 81% over the 100 day average.

Brent crude for January delivery fell 93 cents to $ 69.72 a barrel. "Brent" is going to end this week with a 4.2 percent loss.

The recent downgrade will discuss the possibility of a decline in oil production this weekend at Abu Dhabi ahead of the Organization of Petroleum Exporting Countries (OECD) and non-member countries.

The drop in oil prices comes after the US decision to ban eight countries from banning Iranian oil imports.


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