Brent oil prices fall to $73

Oil prices continued to decline on December 13 after falling to their lowest levels since June 27 at the end of the previous session, Report informs referring to Interfax.

The market is being pressured by fears of weakening demand for energy resources given signals of increased production in countries outside OPEC+.

The price of February Brent futures on the London ICE Futures exchange was $73.09 per barrel, which is $0.15 (0.2%) lower than at the close of the previous session.

WTI oil futures for January in electronic trading on the New York Mercantile Exchange (NYMEX) fell by $0.14 (0.2%) to $68.47 per barrel.

The market reacted negatively to data on consumer price dynamics in the US for November, published on December 12. Inflation in the US slowed to 3.1% annualized last month from 3.2% the month earlier, while core inflation, which excludes food and energy costs, remained at 4%.