The prices of oil futures fell slightly during Monday’s trading, so that the decline continues for the second consecutive day, in light of fears of the decline in energy demand as a result of the recession of the economy.
Additionally, as China’s demand for oil increases, the dollar’s drop and other factors help to slow the decline in oil prices.
The new British Treasury Secretary Jeremy Hunt’s decision to back away from promises to reduce income taxes increased the value of the pound sterling relative to other major currencies in the exchange markets.
Compared to the major currencies, the dollar value index decreased by more than 1. 111, up 2% from where it was on Friday. 92 marks.
The record price of American oil, West Texas Intermediate crude, dropped by $15. 5, or 0. 2%, to approximately 85.
Delivery of barrels for 46 dollars in November.
Global oil benchmark Brent crude decreased slightly to 91. 56 dollars a barrel..
Oil prices have slightly dropped in today’s trading.
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