Brent oil rises in price to almost $93.9 per barrel

Brent oil rises in price to almost $93.9 per barrel Oil prices rose on September 22 after a slight decline in the previous session
Energy
September 22, 2023 10:13
Brent oil rises in price to almost $93.9 per barrel

Oil prices rose on September 22 after a slight decline in the previous session, Report informs referring to Interfax.

The market ended in the red for the third session in a row, despite an intraday jump in prices on September 21 following the news that the Russian government had introduced temporary restrictions on the export of motor gasoline and diesel fuel.

The decision by the Russian side, which is one of the world’s largest suppliers of diesel fuel, will likely worsen its shortage on the global market, Market Watch notes.

The oil market was put under pressure this week by hawkish signals from the Federal Reserve System (FRS), as well as fears of a worsening situation in the US economy and, accordingly, demand for oil as a result of the tightening of policy by the US Central Bank.

The price of November Brent oil futures on the London ICE exchange was $93.86 per barrel, which is $0.56 (0.6%) higher than the close of the previous session.

WTI oil futures for November in electronic trading on the New York Mercantile Exchange (NYMEX) rose in price by $0.71 (0.79%) by this time to $90.34 per barrel.

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