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This was 39 cents more than the previous day. The price per barrel of the American variety West Texas Intermediate (WTI) rose 27 cents to $72.04.
In early trading, prices in the oil market stabilized after previously being under significant pressure. In the last trading week of the year, crude oil from the North Sea fell by more than four dollars a barrel and U.S. oil fell by more than three dollars a barrel. Even the unexpectedly serious decrease in oil reserves in the USA could not accelerate oil prices.
Oil prices also fell throughout the year. At the beginning of 2023, the cost of a barrel of Brent oil from the North Sea was still around $85. The start of the war in the Middle East caused the Brent price to approach the 100 dollar limit in early October. But then the trend began to reverse. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
