Oil prices decline at settlement

Oil prices fell at settlement at the end of Monday's trading. Brent crude futures fell 18 cents, or 0.2 %, to settle at $84.85 per barrel. US West Texas Intermediate crude also fell 30 cents, or 0.4 %, to reach $81.91 per barrel upon settlement. The price of crude oil declined last week after four weeks of gains, as hopes for a recovery in summer demand in the United States were met with other concerns about demand in China, and Chinese economic data reinforced these concerns, as it showed that the second largest economy in the world achieved quarterly growth of 4.7 %. During the period from last April to June, at the slowest pace since the first quarter of 2023. Source: National Iraqi News Agency