Oil falls in price after rising by 3%

Global oil prices are falling on Aug. 26 morning after rising by an average of 3 percent over three trading sessions, according to trading data, Report informs referring to Prime agency.

As of 9:07 (GMT+4), the price of November futures for Brent crude oil decreased by 0.69 percent, to $70.79 per barrel, October futures - by 0.48 percent, to $71.9 per barrel. October futures for WTI are also falling in price - by 0.85 percent, to $67.78 per barrel.

Investor concerns about the impact of the COVID pandemic persist on the global market. According to analysts at TD Securities, quoted by the Wall Street Journal, the market may still face obstacles due to the Delta strain.

The decline in oil prices is also facilitated by the strengthening of the US dollar, the index of which (the dollar’s exchange rate against the basket of currencies of six countries - the main trade partners of the US) increased by 0.05 percent, to 92.88 points.