New York: During trading on the ICE London Intercontinental Exchange, the price of the May 2025 contract for Brent crude oil export decreased by 0.33%, reaching $70.33 per barrel, APA-Economics reports. On the NYMEX commodity exchange in New York, the price of WTI crude oil for export in May this year also dropped by 0.28%, settling at $66.56 per barrel.
According to Azeri-Press News Agency, these fluctuations in oil prices come amid various factors influencing global markets. The price changes reflect ongoing adjustments as market participants respond to shifts in supply, demand, and geopolitical factors that can impact the production and distribution of crude oil. The recent decrease in prices may have implications for industries reliant on oil and could influence future trading strategies on international exchanges.