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Reuters
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Oil prices continued their decline on Monday after Saudi Arabia, the world’s largest exporter of crude, slashed crude prices for Asia over the weekend, indicating good supply in world markets.
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Brent crude futures for November 2021 fell 1.45% to $ 71.56 per barrel as of 6:01 am GMT.
While US crude “West Texas Intermediate” for the month of October 2021 recorded a reading at the level of 68.33 dollars per barrel, down 1.39%, according to data from the site “Bloomberg”.
Oil giant Saudi Aramco on Sunday informed customers in a statement that it will cut October 2021 prices by at least $ 1 a barrel for all types of crude sold to Asia, its largest buying region. .
A Reuters poll of Asian refiners indicated that the price cuts were larger than expected.
Source: Reuters + Bloomberg
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