BAKU, Azerbaijan, June 22. Trading data indicate a decline in world oil prices on Thursday morning, after the previous increase, Trend reports.
The price of August futures for Brent Crude Oil fell by 0.54 percent to $76.7 per barrel, while August futures for WTI fell by 0.51 percent to $72.16.
Brent Crude Oil prices rose by 1.61 percent, and WTI — by 2.88 percent on Wednesday. This was due to the markets' assessment of the prospects for economic recovery in China, one of the largest consumers and importers of oil.
The Chinese authorities unexpectedly lowered rates, and the media reported on the authorities' intention to support the country's economy last week.
Meanwhile, the price of August futures for Brent Crude Oil fell by 0.2 percent to $75.94 per barrel, while August futures for WTI fell by 0.49 percent to $71.16 on June 20.