Crude oil prices have fallen sharply.

Specifically, the price of West Texas Intermediate crude oil in the US fell by more than 5% to $69.71 per barrel. Meanwhile, the price of North Sea Brent crude oil in Europe also fell by a similar amount to $73.34 per barrel.

Crude oil prices cooled after the Washington Post reported that Israeli Prime Minister Benjamin Netanyahu had discussed with U.S. President Joe Biden the possibility of targeting Iran's military , rather than its oil and nuclear sectors.

Matt Britzman, a senior analyst at Hargreaves Lansdown, commented that this information has eased concerns about supply.

Earlier this month, Iran's missile attacks on Israel caused crude oil prices to surge, amid fears that retaliatory attacks would disrupt oil supplies.

The International Energy Agency (IEA) confirmed on the same day that current supply remains sufficient to meet global oil market demand. In its monthly update, the IEA stated that the lifting of the Libyan oil blockade, weaker demand, and low production losses following hurricanes in the Gulf of Mexico "have helped stabilize the market."

Another factor contributing to the decline in oil prices is concern about demand in China, after Beijing failed to announce any new economic stimulus measures at its weekend press conference. Weaker-than-expected trade and inflation data in September has fueled investor fears that China, the world's largest crude oil importer, is failing to revive its economy.

Meanwhile, global stock markets saw mixed results. At the close of trading on October 15th, the Hang Seng index on the Hong Kong stock market (China) fell nearly 4%, the Shanghai Composite index dropped 2.5%, while Tokyo (Japan) saw gains after a three-day weekend holiday.

In Europe, the FTSE index on the London market (UK) fell, despite official data showing a slowdown in unemployment and wage growth, raising analysts' expectations that the Bank of England will continue to cut interest rates next month.

The CAC 40 index on the Paris stock exchange (France) fell 0.8%, while the DAX index on the Frankfurt market (Germany) rose 0.3% amid expectations that the European Central Bank will cut interest rates on October 17, as concerns about inflation in the Eurozone eased and worries about slowing economic growth increased.

Source: https://tuoitre.vn/gia-dau-tho-giam-manh-20241015202223038.htm