World Oil Price Falls to US$64.29/Barrel (Monday, March 29)

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Yosepha Pusparisa 29/03/2021 11:27 WIB

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Global oil prices fell on Monday, March 29, at 09:50 WIB. Brent crude traded at US$64.29 per barrel, down 0.09% from the previous trading session.

Global Crude Oil Price (March 29, 09:50 WIB)

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World Oil Price Falls to US$64.29/Barrel (Monday, March 29)

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Global Crude Oil Price (March 29, 09:50 WIB)

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Global crude oil prices edged down slightly on Monday, March 29, 2021, at 09:50 WIB. Brent crude traded at US$64.29/barrel, down 0.09% from the previous trading session. Meanwhile, West Texas Intermediate (WTI) crude was priced at US$60.61/barrel, down 0.2%.

Citing Reuters, oil prices began to decline after a surge of up to 4% on Friday, March 26, 2021. This was due to traders and investors assessing the impact of the blockage of trade transit points caused by the Ever Given, an Evergreen-owned vessel, which ran aground in the Suez Canal, a major global trade route.

However, the dredging of the Ever Given in the Suez Canal has begun to lower oil prices. Demand is gradually increasing.

Editor : Aria W. Yudhistira

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."