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On Thursday (August 23), U.S. WTI crude closed down 2.5% for the first time in three days

 Last Update: 2022-11-15
 Source: Internet
 Author: User

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In the early morning of August 26, Beijing time, the price of U.
S
.
WTI crude oil futures fell for the first time in three trading days on Thursday.

Analysts pointed out that Saudi Arabia has hinted that the Organization of the Petroleum Exporting Countries (OPEC) may decide to cut production if the Iran nuclear deal is reached, because the Iran nuclear deal will lift Western sanctions on Iran and eventually allow more oil to enter the global market
.

But from a fundamental point of view, even if OPEC production cuts, which are intended to offset the impact of Iranian oil returning to global markets in the future, it is not a substantial new bullish catalyst
.

West Texas Intermediate (WTI) futures for October delivery fell $2.
37, or 2.
5 percent, to settle at $92.
52 a barrel on the New York Mercantile Exchange
on Thursday.

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