The global oil market has seen another decline in crude oil prices. Reports indicate that the US crude oil West Texas Intermediate (WTI) dropped by 0.53 cents, settling at $85.85 per barrel.
Similarly, Brent crude oil prices also saw a decrease of 0.54 cents, reaching $87.40 per barrel.
It’s worth noting that the Israeli-Palestinian conflict led to a 5 percent surge in crude oil prices over the past three days. According to Saudi media, Brent crude experienced a notable increase of $4.18, or 4.94 percent, settling at $88.76 a barrel in Asian trading. This rise was attributed to concerns about potential supply disruptions from Iran due to heightened Israeli-Palestinian tensions.
Meanwhile, reports from foreign sources indicate that the Organization of the Petroleum Exporting Countries (OPEC) Plus has not yet made an immediate decision regarding adjustments in oil production levels.
