Oil prices fall to 2004 low

Oil prices fall to 2004 low

Oil prices continue to fall on the world markets, coming close to levels last seen in 2004.

As of 07:26 the price of a barrel of Brent crude dropped 0.86%, reaching $36.34, and the crude oil futures of WTI decreased in price by 0.73% to $35.8 per barrel.

The decline in world oil prices is associated with the strengthening of the dollar after the decision of the US Federal Reserve to raise the interest rate, as well as the statistics of the Baker Hughes company, according to which the number of oil rigs has increased by 17 units (or 3.24%) to 541 units, RIA Novosti reports.


Vestnik Kavkaza

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