Baku: Oil prices have fallen in world commodity markets: Oil prices have declined, reports APA-Economics.
According to Azeri-Press News Agency, a decline in oil prices was recorded based on futures contracts for September 2025. Specifically, a barrel of WTI (Nymex) oil saw a decrease of $0.17, or 0.24%, bringing its price down to $69.83. Similarly, Brent (ICE) oil experienced a price drop of $0.24, or 0.33%, settling at $73.00.
The decrease in prices is attributed to weakening expectations for global economic growth, coupled with concerns over diminishing demand. This sentiment arises amid reports of increasing commercial oil reserves in the United States. Additionally, underwhelming economic indicators from China have further negatively impacted the market, contributing to the downward trend in oil prices.