Oil prices decline slightly

MOSCOW, 15 Sep — PRIME. World oil prices on Thursday morning are slightly declining, while investors are evaluating a possible short-term decrease in demand for this type of raw material, bearing in mind possible interruptions in supply, follows from the trading data and the analyst’s commentary.

Asia-Pacific exchanges are traded in different directions on a number of factors

As of 7:40 Moscow time, the price of November futures for Brent crude oil is falling by 0.18%, to $93.93 per barrel, and October futures for WTI – by 0.05%, to $88.44.

According to the International Energy Agency (IEA), the growth in oil demand in the world by the end of the year will be at the level of 99.7 million barrels per day, which is 100,000 barrels less than the previous forecast. In addition, according to the agency, global oil production has been growing for the third month, reaching 101.3 million barrels per day in August.

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“In terms of sentiment, the lower demand outlook, countered by worries about further disruptions to Russian oil supplies, has largely remained,” Vanda Insights founder Vandana Hari told Bloomberg.


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