Oil prices have declined on global markets, Azernews reports.

The price of a barrel of "Brent" crude on the London ICE exchange dropped by $0.32 to $82.28.

Meanwhile, the price of "Light" crude on the New York NYMEX fell by $0.30 to $78.20 per barrel.

Oil prices have experienced a downturn in global markets amidst various economic and geopolitical factors influencing supply and demand dynamics.

These price movements underscore the volatility and interconnected nature of the global oil market, where fluctuations can have significant implications for economies worldwide, affecting everything from consumer prices to energy sector investments.