Pakistan crude oil prices see sharp decline in international market

There has been a major decline in crude oil prices in the international market, according to a foreign news agency report. The price of Brent crude oil has decreased by 10.67 percent, bringing it down to 98.57 dollars per barrel.

The price of American West Texas Intermediate has also fallen by 11.41 percent to 90.57 dollars per barrel. At the same time, natural gas prices have recorded a decline of 2.76 percent, reaching 2.73 dollars per MMBTU, News.Az reports, citing AUSAF Daily. 

Experts say the possible reasons behind the fall in oil prices include a slowdown in global demand, increased supply, and international economic uncertainty. Analysts suggest that if this trend continues, it may affect both the global economy and petroleum product prices at the local level.

It is noted that fluctuations in global oil prices directly impact the economies of importing countries, including Pakistan, where consumers may see relief if the downward trend continues.

News.Az 

By Leyla Şirinova