Oil prices fall

Global oil prices fell on June 22 morning after rising the day before, Report informs referring to the auction data.

The price of August futures for Brent crude fell by 0.54% to $76.7 per barrel, August futures for WTI decreased by 0.51% to $72.16.

On June 21, the cost of Brent crude increased by 1.61%, WTI price fell by 2.88%. Markets were assessing the prospects for economic recovery in China - one of the largest consumers and importers of oil.

So, last week, the authorities unexpectedly lowered rates, and the media reported on the intention of the authorities to support the country’s economy.