Decrease in oil prices today

2023-12-29 08:27:01

This morning, Friday, December 29, 2023, came with a decline in US crude futures by 1.1% to $73.29 per barrel.

The decline in oil prices by more than 1% today came with the decline of concerns regarding shipping disruptions along the Red Sea route, in addition to the continued escalation of tensions in the Middle East.

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In addition, US West Texas Intermediate crude futures fell 82 cents, or regarding 1.1%, to $73.29 per barrel.

The impact of the Red Sea attacks on oil markets is limited, but there is concern and fear that their impact will be reflected in the prices of goods with the rise in the cost of insurance for goods, which in turn affects the economy of the Kingdom of Saudi Arabia.

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