WTI Oil Price falls $74, Brent falls $81

Crude oil futures continued to plunge today, with WTI falling below $74 and Brent crude slipping to $81 as investors worried about protests across China. affects the economy and the demand for oil

At 7:02 pm Thai time, West Texas Crude Oil Contract (WTI) for delivery in January. which traded on the NYMEX, minus $ 2.47, or 3.24%, to $ 73.81 / barrel. This is the lowest level since December 27, 2021, while Brent crude oil prices fell $ 2.74 or 3.28% to $ 80.89 / barrel. This is the lowest level since January 11.

Chinese people are rioting to protest the government’s zero COVID policy. by gathering on the streets of various cities These include Shanghai, Beijing, Wuhan, Chengdu, Xi’an and Nanjing to express dissatisfaction that the government continues to lock down cities. which affects the economy and the lives of the people While some protesters are demanding that President Xi Jinping resign.

Investors are keeping an eye on the negotiations of the European Union (EU) on Russian oil price ceiling in the range of 65-70 dollars / barrel. Who still can’t come to an agreement. And further discussions are expected this week. before coming into force on 5 December

In addition, the market will keep an eye on the production policy meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC Plus) on December 4.

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