Brent Oil Price Falls Below $74 Per Barrel First Time Since December 2023

Oil has fallen by more than 4% in a day.

The price of Brent oil futures on the London ICE Futures exchange fell by 4.6% and fell to $73.98 per barrel as of 17:20 Minsk time. The last time oil quotes were traded below $74 per barrel was on December 13.

The price of WTI oil futures for October delivery on the New York Mercantile Exchange fell by almost 4%, to $70.6 per barrel.

Oil prices are falling amid a planned increase in oil production in October by OPEC+ countries.

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