Oil prices decreased again against the backdrop of recession expectations.
Tuesday, September 27, 2022

Oil prices decreased again against the backdrop of recession expectations.

According to the ICE Futures exchange, the price of November futures for Brent crude fell to $85.66 per barrel on the afternoon of September 26, which is $0.49 (0.57%) below the closing price from the previous session. The price of WTI oil futures for November on the NYMEX commodity exchange decreased to $78.37 per barrel, which is $0.37 (0.47%) less than the result of the previous session. Over the past week, Brent lost 5.7% of its value, WTI – 7.1%. Both brands ended trading at the lowest mark since January. The oil market is under pressure from stemming from fears of a global recession, high inflation, and the strength of the US dollar, which is undermining global demand.

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