West Texas Intermediate (WTI) crude oil prices dropped early Friday in the European trading session. WTI was trading at $72.92 per barrel, down from Thursday’s closing price of $75.06. This marks a notable decline as market participants react to various factors influencing supply and demand.
Similarly, Brent crude oil also experienced a fall. The price slipped to $75.06 per barrel from its previous close of $77.32. Brent, which serves as a global benchmark, reflected similar bearish sentiment in early trading.
The declines in both WTI and Brent crude come amid ongoing concerns about economic growth, potential changes in production levels by major oil-exporting countries, and shifts in global energy demand. Investors are closely watching these developments, which continue to impact crude oil markets worldwide.
