Brent falls 9.5% and WTI 3% amid pause in attacks between the US and Iran
Brent crude was trading this Monday at 87.57 dollars per barrel, 9.5% below last Friday’s close, while WTI oil fell more than 3% and was trading at 82.15 dollars.
The price of a barrel of Brent crude oil fell by more than 9% this Monday in response to the pause in attacks between the United States and Iran, which has momentarily brought the cost of the benchmark oil for Europe below 90 dollars, at one-week lows, when a few days ago it had exceeded 102 dollars per unit.
Specifically, Brent crude was trading this Monday at $87.57 per barrel, 9.5% below last Friday’s close, while West Texas Intermediate (WTI) oil fell more than 3% and was trading at $82.15.
The cost of a barrel of Brent crude exceeded 102 dollars last Thursday, while the price of WTI surpassed 88 dollars.
The price of oil and the cross-attacks
After thirteen consecutive nights of U.S. attacks against Iran, there have been no new U.S. military actions since the weekend, while the Islamic Republic indicated that it would refrain from any retaliation.
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