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HomeNewsCurrent Oil Prices: Steady Growth Amid Long-Term Uncertainty

Current Oil Prices: Steady Growth Amid Long-Term Uncertainty

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Date: August 26, 2024 – The price of Brent crude oil saw a slight increase today, reaching $79.53 per barrel, marking a 0.65% rise compared to the previous day. This increase was primarily driven by concerns over potential supply disruptions and expectations of a moderate demand increase in Asia. However, analysts, including those from Goldman Sachs, predict that the price could drop below $70 per barrel by the end of the year if demand in China does not rise as expected.

The price of WTI (West Texas Intermediate) crude oil is currently at $75.41 per barrel, reflecting a 1.95% decline compared to the previous week. The decline in WTI prices is influenced by weakening demand, particularly in China, and ongoing concerns about the global economy.

Table: Current Brent and WTI Crude Oil Prices

DateBrent Crude Price (USD/barrel)Daily Change (%)WTI Crude Price (USD/barrel)Daily Change (%)
August 26, 202479.530.6575.41-1.95
August 23, 202477.732.3075.89-2.86
August 22, 202476.531.5079.66-1.75
August 21, 202477.63-1.5078.05-0.17
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