Brent oil prices decreased by 9% this year

In January-March of this year, the average price of one barrel of Brent benchmark oil in global markets was $75.6, which is 9% lower than the corresponding period last year ($83.1), APA-Economics reports citing the World Bank’s monthly commodity price report.

Based on the report, the average price of Brent oil in March of this year was $72.6, marking a 3.5% decrease compared to February ($75.2).

It is stated that in 2024, the average price of Brent oil was $80.7, which is 2.3% lower than indicators in 2023 ($82.6).

According to the information, in January-March of this year, the average price of WTI (West Texas Intermediate) benchmark oil per barrel was $71.4, which is 7.3% lower than in the first quarter of 2024 ($77).

The report states that in March of this year, the average price of WTI was $67.8, reflecting a 4.9% decrease compared to the previous month ($71.3).

It is noted that last year, the average price of WTI oil was $75.8, which is 2.4% lower than the previous year ($77.7).

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