Oil prices fall at settlement to the lowest level in a week

Baghdad, Oil prices fell by about one percent at settlement at the close of trading, Monday, recording the lowest level in a week.

Brent crude futures fell 79 cents, or 0.9 %, to reach $85.75 per barrel upon settlement.

US West Texas Intermediate crude also fell 83 cents, or one percent, recording $82.33 per barrel.

This comes after the closure of oil refineries and American ports due to Hurricane Beryl, which struck the state of Texas, a state that produces oil and natural gas in larger quantities than any other American state.

Source: National Iraqi News Agency