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.