In a recent turn of events on the international energy exchange, both oil and natural gas prices have experienced notable shifts. Here’s a detailed look at the latest developments:
The price of a barrel of Brent has witnessed a 1.5% decrease, currently standing at $93. Concurrently, the American WTI is hovering around $89. This comes after Brent reached a one-year high of over $95 just yesterday.
In today’s trading session, the price of natural gas has also experienced fluctuations. In the United States, gas prices saw a significant dip of 3.5%. In contrast, the European Union recorded a milder correction rate of 1%.
Notably, the overall gas prices on the exchange have plummeted by a 80% when compared to the same period last year. This considerable drop underscores a substantial shift in market dynamics over the past year.
It is essential to bear in mind that market conditions are subject to rapid changes.