International crude oil prices fall on Jul 12
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Update time : 2024-07-16 14:53:56
According to the United States Bureau of Labor Statistics, the producer price index (PPI) increased by 2.6% yearly in June due to rising service costs, hitting a new high since March 2023. Moreover, the market expects that the Federal Reserve System (FED) may cut interest rates in September, and international crude oil prices fell on July 12.
West Texas Intermediate (WTI) crude for August delivery decreased by US$0.41 (0.5%), reaching US$82.21/barrel on the New York Mercantile Exchange. Brent crude for September delivery declined by US$0.37 (0.4%), settling at US$85.03/barrel.
