2024-03-11 07:57:05
Oil quotes are declining on Monday morning after a decline over the past week.
As Day.Az reports with reference to Interfax, May Brent futures fell in price on the London ICE Futures exchange by $0.56 (0.68%), to $81.52 per barrel. On Friday, Brent fell by $0.88 (1.1%) to $82.08 per barrel.
By this time, April futures for WTI fell in price on the New York Mercantile Exchange (NYMEX) by $0.59 (0.76%) – to $77.42 per barrel. During the previous session, the contract fell in price by $0.92 (1.2%) to $78.01 per barrel.
Over the past week, the international benchmark fell by 1.8%, the North American one by 2.5%.
Investors are cautious ahead of this week’s release of US inflation data and monthly reports from OPEC and the International Energy Agency (IEA), which could impact the market outlook, Trading Economics writes.
Traders are also monitoring the truce negotiations between Israel and Hamas, which have not yet yielded significant results, and assessing Chinese foreign trade statistics.
According to S&P Global Commodity Insights, oil imports from China in the first two months of the year fell by about 5.7%, to 10.9 million barrels per day.
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