Oil prices declined by about one percent at the close of today’s trading session, marking their lowest level in a week.
Brent crude futures fell by 79 cents, or 0.9 percent, settling at $85.75 per barrel. Similarly, West Texas Intermediate (WTI) crude dropped by 83 cents, or one percent, to settle at $82.33 per barrel.
This decline follows the shutdown of oil refineries and ports in the United States due to hurricane Beryl, which struck Texas, the state that produces the most oil and natural gas in the country.
Source: Qatar News Agency