World oil prices are going down on Dec.22, according to the trading data.
| Quick note to the Saudis: suckers! |
The price of February futures for Brent crude oil decreased by 0.06 percent and stood at $54.43 per barrel as of 01:32 EST. This is while the price of February futures for West Texas Intermediate (WTI) oil dropped by 0.08 percent to $52.45 per barrel.
Earlier today, oil prices rose supported by a weaker dollar and optimism that crude producers would abide by an agreement to curb the output.
But the unexpected rise in US crude inventories last week and Libya’s announcement about boosting the oil output over the next few months changed the situation. |