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- Oil trading lower. Brent down 1% so far
Oil trading lower. Brent down 1% so far
This morning, New York crude oil futures for WTI fell by -0.62% to $ 46.27 and Brent oil futures were down -0.93% to $ 48.77 per barrel. Thus, the black gold is traded lower on the background of doubts in possible negotiations between producing countries on the production limits to stabilize the market. Doubts that the world's largest oil producers may agree to freeze production in the near future intensified after Iran made it clear that it is not interested in such an agreement. In addition, the Iranian Ministry said that the Iranian authorities have not yet decided whether or not the country will participate in the September meeting of OPEC. At the same time, analysts note that the participation of Iran in the frozen oil is an essential condition of the agreement put forward by Saudi Arabia earlier.
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