Oil prices are falling again

You are now following the news of oil prices falling again and now with details

BAGHDAD – Yasin Safwan – Brent crude futures were down 36 cents, or 0.4 percent, at $95.41 a barrel by 0151 GMT after falling 1.2 percent on Friday.

U.S. West Texas Intermediate crude was down 23 cents, or 0.3 percent, at $87.67 a barrel after falling 1.3 percent at the close on Friday.

The coffers of the oil giants have piled up and the world has been hit by a fuel boom.
Stephen Ince of SBI Asset Management said the expansion of Covid-19 restrictions in China has always raised concerns about demand from the world’s largest crude importer.

Chinese cities have begun to tighten Beijing’s zero-covid-19 policy as the outbreak escalates, dashing earlier hopes of a revival in demand.

WTI is still supported by indications from major US producers that the Permian field, America’s largest shale oil field, is slowing productivity.

Maryam Al Jabari

A practicing journalist, Faculty of Arts, Department of Mass Communication graduate, she has worked in several national newspapers and media websites.

Mojtaba Sadira

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