2024-01-23 14:09:01
With the continuing pressures and economic factors that are not consistent with expectations of global oil demand, oil is witnessing a significant decline in prices, for the second day in a row. This occurred due to the global turmoil caused by wars.
Oil prices declined for the second day in a row
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The Russian company Novatek announced yesterday that it had been forced to suspend some of its operations at the oil terminal located on the Baltic Sea, due to the outbreak of a major fire, at the same time that the war in Gaza continues to rage.
It has been reported that the attacks carried out by the Houthis in the Gulf of Aden and the Red Sea have caused disruption in global trade and led to a decline in crude oil prices in all European and African markets.
A decline in the value of oil was recorded, as the price of Brent crude fell to 41 cents, by 0.5%, to regarding 78.15 dollars per barrel of oil, following falling to 54 cents.
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