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 World Oil Prices Continue Reducing: Brent Fell to $ 91.66 per Barrel

The oil prices continue to fall after a short period of rising on Monday without OPEC’s signals of the production constriction.

Bloomberg reports this, Censor.NET informs citing Interfax-Ukraine.

November futures for Brent crude on London's ICE Futures exchange reduced for $ 0.65 (0.70%) - down to $ 91.66 per barrel as of 06:17 pm Moscow time on Monday. The trading on Friday was finished at its lowest level since June 2012.

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WTI crude oil futures price for November declined at this time for $ 0.74 (0.82%) - down to $ 89 per barrel on the New York Mercantile Exchange (NYMEX).

The oil quotations increased earlier in the course of trading through the dollar depreciation since its two-year high. A weak dollar increases the profitability of investments in commodities.

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According to Bloomberg sources, OPEC does not intend to reduce the volume of production prior to the meeting, which will take place November 27. Thus, the excess supply of oil on the world market will remain.

 
 
 
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