February 6, 2023

Dubai Week

Complete Dubai News World


Oil prices fall for fourth day in a row – economy – global economy

Oil futures prices recorded a new decline on Tuesday. The growing corona virus, which is highly contagious and spreads rapidly, outperforms the dollar. And economic data indicating US recovery volatility.

According to the Bloomberg News Agency, the price of futures contracts fell by 1% during yesterday’s trading, after a decline of nearly 3% in the last three trading sessions.

Retail sales in the United States have declined more than expected, reflecting a steady shift in the cost of services and indicating that consumers are more interested in prices with higher inflation, while wholesale retail sales in the United States have declined by 0 percent in the last month of June, according to revised data. Increased by 1.1% in the last month.

West Texas Intermediate, the benchmark for US oil, was down 70 cents to $ 66.59 a barrel on September delivery. Brent crude was down 48 cents at $ 69.03 a barrel on October delivery, down from North Sea oil, to continue its decline for the fourth consecutive session last March.


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