Oil prices are falling from the highest level in 7 years

Oil prices are declining during today’s trading following crude prices recorded their highest level in 7 years yesterday, while the US West Texas Intermediate futures contract is down 0.77%.

  • US crude futures fell 0.77%

Oil prices fell, during Thursday’s trading, and this came following crude prices had recorded their highest level in 7 years yesterday.

By 10:01 Moscow time, US crude futures “West Texas Intermediate” fell 0.77% to $ 86.88 a barrel.

Meanwhile, Brent crude futures fell 0.49% to $89.52 a barrel, according to Bloomberg website data.

Yesterday, oil prices jumped above $90 a barrel, for the first time in seven years.

The decline in oil prices came following the US Federal Reserve indicated that it would soon start raising interest rates to counter inflation.

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