Oil prices bounce back after crash the day before

MOSCOW, 16 Sep — PRIME. World oil prices are recovering on Friday morning after falling the trading day earlier, follows from the trading data.

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As of 8:21 Moscow time, the price of November futures for Brent crude oil is growing by 0.42%, to $91.22 per barrel, October futures for WTI – by 0.32%, to $85.37.

There is a positive trend in the oil market, which is due to the corrective recovery of quotations after a strong fall in the previous trading session. So, on Thursday the cost of “black gold” of the Brent brand fell by 3.5%, and the WTI brand – by 4.3%.

Such a drop in quotes was mainly due to fears for the state of the world economy in connection with high inflation and the “hawkish” policy of central banks.

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In addition, investors are negative about anti-COVID restrictions in China, which lead to a decrease in demand for fuel.


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