Price development
Oil prices are falling – backlash after highs
After a sharp jump in prices, oil prices have fallen again. Photo: Leo Correa / AP / dpa
© dpa-infocom GmbH
After there was a sharp jump in oil prices, they have now fallen again. The reason for the price increase yesterday was the news that inventories in the US were down.
Oil prices fell on Thursday. Market observers spoke of a backlash after a sharp jump in prices the day before with multi-year highs.
At noon, a barrel (159 liters) of the North Sea Brent cost 84.93 US dollars. That was 89 cents less than the day before. The price of a barrel of the American WTI variety fell by 54 cents to $ 82.88.
The day before, oil prices rose after it was revealed that inventories had fallen in the world’s largest economy. The market was surprised by the development.
At times, the US oil price jumped to $ 84.25 on Wednesday evening, its highest level in seven years. The price of Brent oil from the North Sea reached $ 86.10 last night, its highest level in four years.