Oil prices decline during the trading session on Tuesday

MOSCOW, 6 Sep — PRIME. World oil prices are falling on Tuesday afternoon, investors are evaluating the prospects for a decrease in demand, according to trading data and expert comments.

As of 13.05 Moscow time, the price of November futures for Brent crude oil falls by 2.75%, to $93.11 per barrel, October futures for WTI – by 0.14%, to $86.73.

Oil quotes are falling on Tuesday afternoon, the markets are evaluating the possible reasons for the reduction in demand for this type of raw material. Thus, the prospect of an increase in the discount rate by the US Federal Reserve and the ongoing coronavirus restrictions in China have a negative impact. At the same time, the possible return of Iran to the nuclear deal can contribute to the increase in supply.

“The worrisome outlook for the global economy, coupled with the prospect of a US-Iran nuclear deal, has created a bearish scenario for oil prices that has not been seen for much of the year,” Craig Erlam, chief market strategist at broker OANDA, told MarketWatch. .