Saudi Arabia Signals Oversupply, International Oil Prices Fall to 5-Month Low

(Taipei, July 7, 2023, Central News Agency, New York) International oil prices fell to a 5-month low today, mainly due to Saudi Arabia's rare downward adjustment of the price of Arab Light crude oil, signaling the latest indication of oversupply in the international market.

According to reports from Agence France-Presse and Bloomberg, West Texas Intermediate crude oil futures on the New York Mercantile Exchange fell 0.2% to $68.55 per barrel, the lowest level since late February.

Brent crude oil futures in London fell 0.2% to $71.99 per barrel, also closing near a 5-month low. (Compiled by Lu Ying-tzu) 1150707

Stand with facts, your every sponsorship is a force to protect press freedom.

Download the Central News Agency "First-Hand News" APP for real-time updates.

Text, images, and audio/video on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.