June 2, 2023

Oil prices during morning trading today, Thursday, showed a marked decline compared to prices observed during the last period.

Brent futures fell 89 cents, or 1.05%, to $84.10 a barrel.

Futures for West Texas Intermediate crude oil fell 89 cents, or 1.1%, to $79.72 a barrel.

Two oil prices rose more than 5.5% this week, aiming for a record rise for the third consecutive week after the OPEC+ group, which includes the Organization of the Petroleum Exporting Countries (OPEC) and independent producers, including Russia announced about additional voluntary cuts in production.

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