The price of oil fell rapidly amid an increase in the number of COVID-19 infected, a stronger dollar, and expectations of reduced demand for fuel. On the ICE London exchange, the price of futures for Brent oil for September was $66.07 as of 17:32. On August 19, 2021, the September futures rate for this fuel brand fell below $66, which was last seen in May 2021.
The decline in oil prices is due to several negative aspects:
According to experts, until the epidemiological situation gets better, the price of oil with high probability will not exceed $70 per barrel.