Monday 10/Mar/2025 – 08:51 PM
Oil prices turned to decline in volatile transactions today, Monday, after it rose earlier due to a collision of an oil tanker with a container ship in the North Sea, which led to the burning of fire in the two ships and the launch of a large rescue operation.
Oil prices are declining globally after a collision of an oil tanker in the North Sea
Brent crude futures decreased by 1.5% or one dollar to $ 69.32 a barrel, and American NIMEX crude contracts fell about 1.5% April delivery or 98 cents at 66.04 dollars a barrel.
This coincided with the widespread decrease in shares in Wall Street, due to fears that President Donald Trump’s policies will lead to the stagnation of the American economy, which limits the demand for oil in the world’s largest economies.
Official data also showed a decrease in the consumer price index in China by 0.7% in February on an annual basis, while it was expected to decrease only 0.5%, which raised concerns about the pressure of prices.
