Oil continues to fall on Wednesday after a decline in previous trading.
Investors are evaluating the forecasts of global demand for fuel amid uncertainty about the global economy, writes MarketWatch.
At 8:05 Moscow time, quotations of April futures for Brent oil fell by $0.27 (0.33%) and totaled $82.78 per barrel at ICE Futures Exchange in London. Those contracts fell by $1.02 (1.2%) to $83.05 per barrel on Tuesday.
The price of WTI April futures on NYMEX fell by $0.27 (0.35%) to $76.09 per barrel. At the end of previous trading the value of contracts went down by $0.19 (0.3%) to $76.36.
The market’s attention is focused on the publication of the Federal Reserve’s meeting minutes on Wednesday, Bloomberg notes.
“Expectations of a more hawkish position by the Fed continue to grow, which puts strong pressure on the oil market,” Warren Patterson, head of commodity markets strategy at ING Groep NV in Singapore, believes.
