Global oil prices fell on September 11 morning after rising by almost 10% over the previous two weeks, Report informs referring to trading data.
The price of November futures for Brent oil fell by 0.19%, to $90.48 per barrel, and prices of October futures for WTI decreased by 0.53%, to $87.05.
Oil quotes are declining, while remaining at the levels achieved during the previous two consecutive weeks of growth, during which prices rose by 7.3% and 9.6%, respectively.
The price stabilization comes amid expectations around OPEC+ efforts to reduce oil supply, which supports oil prices. At the same time, concerns about the prospects for economic recovery in China, a major consumer and importer of oil, continue to hold back the price of this type of raw material.