Oil prices fall, Brent $84.12 per barrel

Oil prices eased slightly on Tuesday, after rising 2% in the previous session, amid a general increase in risk appetite in global markets.

Brent August futures on London’s ICE Futures exchange were at $84.12 a barrel as of 7:20 a.m., down $0.13 (0.15%) from the close previous. On Monday, these contracts rose by $1.63 (2%) to $84.25 per barrel.

July WTI futures in electronic trading on the New York Mercantile Exchange (NYMEX) fell $0.16 (0.2%) to $80.17 a barrel. At the end of the previous session, the value of these contracts increased by $1.88 (2.4%) to $80.33 per barrel.

“Since mid-June, oil prices have risen steadily based on US data,” said StoneX analyst Fawad Razakzada. – “Last week’s market rally can be considered a belated reaction to OPEC+’s decision to extend current restrictions on oil production.

“Investors also expect fuel demand to pick up with the start of the auto season, which will lower oil stocks in the coming weeks,” Razakzada was quoted as saying by Market Watch.

In connection with

Brent oil