Oil prices are declining in global markets, Azernews reports.

During trading on the ICE London Intercontinental Exchange, the September 2024 contract for Brent crude oil fell by 0.83% to $81.03 per barrel.

Similarly, on the New York NYMEX commodity exchange, the price of WTI crude oil for September delivery dropped by 0.89% to $76.90 per barrel.

These price movements are influenced by various factors including global supply dynamics, economic conditions, geopolitical events, and market sentiment.

Analysts continue to monitor these developments closely as they assess their potential impacts on the energy markets and broader economy.