Oil prices fall as Middle East exports rise and the G7 agrees to release reserves
Prices fell on Monday, although geopolitical risks continue to keep Brent above $100 a barrel.
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Oil prices are declining at the start of the week as crude exports from the Middle East increase and G7 countries agree to release 100 million barrels from their emergency reserves.
According to Reuters, Brent futures stood at around $101.60 a barrel in early trading, while US WTI was around $90.10.
Increased supply is limiting price pressure for now, but risks to deliveries through the Persian Gulf remain. The market therefore continues to react strongly to news about infrastructure and shipping in the region.
For Bulgaria, changes in international prices matter because of their possible impact on fuel, transport and some consumer prices.
Source: Reuters.
