Oil gets cheaper, and Brent is at $84.65 a barrel

09:20 - 16.01.2023

January 16, Fineko/abc.az. Prices for oil of benchmark grades are declining in Monday’s trading after rising more than by 8% at the end of last week.

The price of March Brent crude futures at the London ICE Futures Exchange by 09:10 am decreased by $0.63 (0.74%) to $84.65 per barrel. Following the trading on 13 January, Brent crude futures for March rose by $1.25 (1.49%) to $85.28 per barrel.

By 09:10 am, the price of WTI crude oil futures for February on the electronic trading of the New York Mercantile Exchange (NYMEX) fell by $0.52 (0.65%), to $79.34 per barrel. Following the trading on 13 January, the value of February futures for WTI oil increased by $1.47 (1.88%) up to $79.86 per barrel.

Following the past week, Brent crude oil grew by 8.54% and WTI by 8.26%.