NEW YORK (UPDATED: June 22, 2022) - Crude oil prices fell in the global market, with the price of British crude falling more than ڈالر 4 to 110 110 a barrel. According to the details, there is a clear decline in crude oil prices in the international market. According to Dunya News, British and American crude oil prices have declined significantly in the global market.
US crude fell ڈالر 4.49 to 5 105.3 cents a barrel, while British crude fell ڈالر 4.33 to 110 110.32 a barrel. According to economic analysts, the slowdown in the global economy has led to a decline in demand for crude oil, which has led to a downward trend in oil prices.
In this regard, Pakistani economists say that if the downward trend in crude oil prices in the global market continues, it will be very beneficial for Pakistan.
It should be noted here that Pakistan is a buyer of British crude oil. Until last week, the price of British crude oil in the world market was at the level of 120 120 per barrel. However, after the US and many other Western countries raised interest rates dramatically, the impact on the global market began. Reports of a slowdown in the global economy have also weighed on the global oil market, with British crude falling as low as 10 a barrel in just a few days.
Pakistan's Finance Minister Muftah Ismail also reacted to the fall in world oil prices. Talking to Geo News, the Finance Minister said that he hoped that the prices of crude oil in the world market would come down and if that happened then Pakistan would also take advantage of the situation.
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