New Delhi. Due to the news that America and Iran have largely agreed on the draft of a Memorandum of Understanding (MoU) to end the ongoing tension in West Asia, there is a big downward trend in the price of crude oil in the international market today. For the first time in the month of May, crude oil has fallen below the level of $ 100 per barrel in the international market.
Brent crude fell by $ 4.93 per barrel today and started trading at $ 98.61 per barrel, falling below the level of $ 100 per barrel for the first time in the month of May.
After the start of trading, its price jumped to the level of $ 99.47 per barrel, but after that its movement took a downward trend. Within a short time, Brent crude fell to the level of $ 97.40 per barrel.
According to Indian time, after trading till 10:15 am, Brent crude was trading at the level of $ 97.93 per barrel in the international market with a weakness of $ 5.61 per barrel i.e. 5.42 percent.
Like Brent crude, West Texas Intermediate (WTI) crude also started trading today with a weakness of $ 4.59 per barrel at the level of $ 92.01 per barrel. In early trading, WTI crude jumped to the level of $ 92.55 per barrel, but after that its movement declined.
Within a short time, WTI crude fell to the level of $ 90.45 per barrel. According to Indian time, after the trading till 10:15 am, WTI crude was trading at the level of $ 91.11 per barrel in the international market with a weakness of $ 5.49 per barrel or 5.68 percent.
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