The price of a barrel of Brent fell below $90 for the first time since early February

The price of a barrel of Brent oil fell below $90 on September 7, which was the lowest value since the beginning of February.

During the trading session, the price of oil fell by more than 3%, at some points it fell below $89. At the time of publication of the news, the cost of a barrel of Brent was $89.75.

The price of North American WTI crude fell below $83 per barrel, at the time of this writing, it was trading at just above $84.

According to Interfax , oil is falling on expectations of higher interest rates in the US and a slowdown in global economic growth. So, on the morning of September 7, China published statistics from which it followed that the country reduced oil imports in August by 9.4% compared to the same month in 2021.