ISLAMABAD: There has been a major decline in crude oil prices in the international market. According to a foreign news agency report, the price of Brent crude oil has decreased by 10.67 percent, after which the price has come down to $ 98.57 per barrel.
The price of American West Texas Intermediate has decreased by 11.41 percent to $ 90.57 per barrel. On the other hand, the price of natural gas has also seen a decline, which has decreased by 2.76 percent to $ 2.73 per MMBTU.
According to experts, the possible reasons for this decline in oil prices may include a slowdown in global demand, an increase in supply and international economic uncertainty. Some analysts say that if this trend continues, it may have an impact on the global economy as well as on the prices of petroleum products at the local level.
It should be noted that fluctuations in oil prices in the global market have a direct impact on the economies of other importing countries, including Pakistan, where the public is likely to get relief from the reduction in prices.
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