New Delhi, 30/09 (Sirjan Khabar): Rising petroleum prices have come to a sudden halt. Prices fell for the second day in a row on Wednesday. Demand for this specialty has grown significantly as a result of recent corporate scandals. Brent crude has fallen $ 3 a barrel within the past two days. Brent crude traded below $ 4 a barrel in early trading on Wednesday. That’s down 1.9 percent from a year earlier.
Brent crude was trading at $ 80.75 a barrel last Monday. “It simply came to our notice then. Brent crude didn’t hit the market on Tuesday. On Tuesday and Wednesday, prices continued to fall. The dollar fell $ 2 per barrel on Tuesday, while it fell another $ 1 on Wednesday. WTI crude futures fell to $ 4 a barrel on Wednesday.
The decline in industrial activity has also reduced the country’s oil demand thanks to the instability and power cuts in China’s ascending sector. Meanwhile, the explosion in U.S. inventory has destabilized demand within the market. petroleum prices are expected to fall further as demand drops.