Oil has become cheaper in global energy markets.
elchi reports that May futures for WTI crude oil on the New York Mercantile Exchange (NYMEX) fell by 1.26 US dollars (1.33%) to 93.43 dollars/barrel.
The price of June futures for Brent crude oil on London’s ICE exchange decreased by 1.21 US dollars (1.22%) to 98.18 dollars/barrel.
According to analysts, the decline in prices was mainly influenced by a relative easing of geopolitical risks and a decrease in market demand expectations.