Oil prices fell on Wednesday, with Brent crude down 0.2% following a rise of $1.60 on Tuesday. West Texas Intermediate futures reached $71.14 per barrel, up $1.35 or 1.9% from its closing on Monday. A senior economist at Mitsubishi UFJ Research and Consulting confirmed that "oil prices are under pressure again due to ongoing concerns about the slowdown in the global economy and rising interest rates in the United States and Europe." He stated, "We expect the market to continue to move in both directions, focusing on economic indicators in China and the monetary policy of central banks," predicting that Brent crude will trade around $75 per barrel.
Oil Prices Decline
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