Oil prices have fallen by more than 6 percent now

Crude oil prices are falling rapidly, with prices down more than 6 percent on Tuesday. Such strong price changes are not too common on the oil market. Probably gasoline and diesel will be cheaper in the next period.

Meanwhile, $ 66 (58 euros) per barrel of Brent Standard for Oil from Europe, Africa and the Middle East. The price of the Brent barrel dropped $ 70 on Friday. At the beginning of October, oil prices reached the highest level in four years. For Brent, the peak was around $ 86 a barrel.

The price cut is partly due to the permit that eight states have obtained from the United States to continue to buy oil from Iran after the US sanctions against that country have entered into force.

Countries with OPEC oil cartel countries have already submitted plans to cut production to support the price. This is against the painful leg of US President Donald Trump, who sees low oil prices as a blessing. According to him, in view of current stocks, prices should fall even further.

Source link