World oil prices continue to "plummet"

(GLO)- World oil prices have continued to “plummet”. Of which, Brent oil price is at 62.73 USD/barrel, down 2.49% USD/barrel; WTI oil is at 58.90 USD/barrel, down 2.61 USD/barrel.

According to experts, the sharp decline in oil prices comes from many factors such as: OPEC+ increased production, additional supply from North and South America; geopolitical risks in the Middle East reduced after the ceasefire agreement between Israel and the Hamas movement.

The sharp decline in oil prices comes from many factors combined. Illustration photo: Internet

In addition, US President Donald Trump's recent announcement that he could impose higher tariffs on Chinese goods is also seen as a factor that further destabilizes the market.

If the US-China trade tensions escalate, along with the slowing trend of energy consumption, oil prices may remain low in the coming time. This will have a significant impact on the import-export balance and budgets of many oil-exporting countries.

Source: https://baogialai.com.vn/gia-dau-the-gioi-tiep-tuc-lao-doc-post569160.html