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Oil price drops by more than $1 on global markets

Oil prices have declined in global energy markets, APA-Economics reports.

Futures for WTI crude oil for May delivery on the New York Mercantile Exchange (NYMEX) fell by 1.26 US dollars (1.33%) to 93.43 dollars per barrel.

On the London ICE exchange, the price of Brent crude oil futures for June delivery decreased by 1.21 US dollars (1.22%) to 98.18 dollars per barrel.

According to analysts, the decline in prices was mainly influenced by the relative easing of geopolitical risks and lower demand expectations in the market.

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