London: Oil prices have experienced a decline in global markets, with both Brent and Light crude seeing notable drops in their per-barrel costs.
According to Azerbaijan State News Agency, the Intercontinental Exchange (ICE) in London reported a decrease in the price of Brent crude by $1.34, bringing it down to $98.05 per barrel. Similarly, on the New York Mercantile Exchange (NYMEX), the price of Light crude fell by $1.49, settling at $93.20 per barrel.
This shift in oil prices highlights the ongoing volatility in global energy markets, impacting a range of industries reliant on these crucial commodities. The changes in price reflect broader market trends and economic factors influencing supply and demand.