Oil prices declining after peaking since July 2015
Baku, Azerbaijan, Dec.6
By Leman Zeynalova – Trend:
World oil prices are declining Dec.6 after reaching the maximum level for the first time since July 2015, according to the trading data.
The price of February futures for Brent crude oil dropped by 0.53 percent and stood at $54.65 per barrel as of 01:15 EST Dec.6. This is while the price of January futures for the West Texas Intermediate (WTI) oil decreased by 0.70 percent to $51.43 per barrel.
The price of Brent crude oil exceeded $55 per barrel Dec.5, which is the highest level since July 24, 2015. The price for WTI oil rose to $52.42 per barrel, the highest price since July 15, 2015.