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20 July, 2024
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Oil prices retreat to pre-Russian invasion levels

Brent price retreats below $90 a barrel

Source: CNA

Crude oil prices retracted to levels before Russia's invasion of Ukraine on Wednesday with Brent oil prices falling below $90 a barrel amid concerns of an impending economic downturn.

Specifically, the price of Brent North Sea oil fell by 4%, or $3.7, to $89.07 a barrel, levels seen at the end of January 2022.

US crude oil, WTI, retracted by 4.3%, or $3.7, to $83.17 a barrel.

Crude oil prices are down about 7% this week.

Cyprus  |  energy  |  oil

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