Oil prices sink to lowest levels since 2021 before paring some losses
by ChemOrbis Editorial Team - content@chemorbis.com
According to media sources, global oil benchmarks rebounded on Monday’s settlement after moving down to their lowest levels since 2021 amid the banking crisis.
Before this movement, Brent and WTI decreased about $3 a barrel to the lowest level in 15 months. However, both benchmarks increased more than %1 on Monday after WTI plunged below the $65/bbl threshold.
Accordingly on Monday, Brent crude settled 82 cents or 1.1% higher at $73.79/bbl, while West Texas Intermediate (WTI) crude increased by 90 cents, or 1.4%, to settle at $67.64/bbl.
Before this movement, Brent and WTI decreased about $3 a barrel to the lowest level in 15 months. However, both benchmarks increased more than %1 on Monday after WTI plunged below the $65/bbl threshold.
Accordingly on Monday, Brent crude settled 82 cents or 1.1% higher at $73.79/bbl, while West Texas Intermediate (WTI) crude increased by 90 cents, or 1.4%, to settle at $67.64/bbl.
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