Baghdad Oil prices fell more than 2%, today, Friday, due to fears of an increase in global oversupply in the first quarter of next year, and with the outbreak of a new strain of the Corona virus that worried investors.
Brent crude futures continued to decline for the third consecutive session, and fell $1.69, or 2.1%, to settle at $80.53 a barrel by 0327 GMT.
The price of US West Texas Intermediate crude fell $2.04, or 2.6 percent, to $76.35 a barrel. A settlement price for US crude was not determined yesterday, Thursday, due to the Thanksgiving holiday.
Source: National Iraqi News Agency