KARACHI (HRNW) – A significant decline in crude oil prices has been recorded in the global market, bringing down the benchmarks for both American and British crude.
According to market data, West Texas Intermediate (WTI) crude dropped by $3.16 to stand at $92.86 per barrel. Similarly, the price of Brent crude experienced a decrease of $3.41, settling at $94.83 per barrel.
In contrast to the declining crude oil market, natural gas prices registered an upward trend. The price of natural gas increased by 1.18%, rising to $3.29 per MMBtu (Million British Thermal Units).
Economic experts attribute these fluctuations in the energy sector to changing global supply dynamics and shifting trade activities across major international markets.
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