Oil prices on the global market have fallen by nearly $2, APA-Economics reports.
June futures for WTI crude oil on the NYMEX exchange decreased by 1.85% or $1.89 to $100.38 per barrel.
Meanwhile, July futures for Brent crude oil on London’s ICE exchange fell by 1.68% or $1.85 to $108.02 per barrel.
The decline in oil prices is linked to investors’ expectations that tensions in the Middle East will not escalate further, as well as profit-taking in the market.
