After a huge air pocket on Tuesday, Brent oil continued to fall today. The barrel still lost more than 5% around 4:50 p.m., falling below the 100-dollar mark (98.94). This is the first since last April.
Its American counterpart, the WTI fell by more than 3%, to 96.12 dollars a barrel.
Barrel prices reflected market concern about crude oil consumption for 2022. Producers now believe it is possible that an economic recession will hit industrialized countries, especially the United States and the European Union.
However, in the event of a recession, consumption and therefore the demand for oil would be reduced.
Uncertainty reigns at the level of petroleum products. OPEC continues to steadily increase production, which remains below pre-pandemic levels, but the crisis and economic sanctions against Russia are reducing supply and creating tensions.