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The price of international crude oil fell sharply, falling below the $100 mark per barrel

 Last Update: 2023-01-07
 Source: Internet
 Author: User

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On August 30, the international crude oil market price fell by more than 5%, falling below the $100 mark
per barrel.

According to the Middle East, the reasons for the sharp decline in crude oil prices are manifold: near-double-digit inflation in some of the world's major economies (the highest level in nearly half a century) may prompt central banks in the United States and Europe to raise interest rates more sharply; The military conflict between Russia and Ukraine, the sudden change in the political situation in Iraq, an important OPEC member, and changes in the data on US crude oil inventories, which fell by 600,000 barrels last week, have made the international crude oil market worried about a slowdown in the global economy and reduced
demand for fuels.

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