Oil prices fall by almost 1%

World oil prices fell by almost 1%.

The price of April futures for Brent crude fell by 0.93% to $84.35 per barrel, and the March futures for WTI dropped by 0.97% to $77.73.

Since the beginning of the week, these quotes have fallen by 2.4% and 2.6%, respectively. According to experts, if there are no significant changes on Friday, quotes may show a decline of about 2.5%.

The US authorities earlier announced that they plan to sell 26 million barrels of oil from the strategic reserve in April-June. And commercial oil reserves in the country for the week to February 10 jumped by 16.3 million barrels.

Oil prices were also affected by the forecast that the US Federal Reserve System (Fed) will keep bank rates in the economy at a high level for a longer time than previously expected, as inflation, although slowing, remains well above the target level of 2%. In this regard, there have even been talks of the prospects for a recession, and this has a corresponding negative impact on the prospects for oil demand.

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