World oil prices continue to plummet.

(GLO) - Oil prices on the world market have continued to plummet. Brent crude is at $62.73 per barrel, down $2.49; WTI crude is at $58.90 per barrel, down $2.61.

According to experts, the sharp drop in oil prices stems from a combination of factors such as: OPEC+ increasing production, additional supply from North and South America; and reduced geopolitical risks in the Middle East following the ceasefire agreement between Israel and Hamas.

The sharp drop in oil prices stems from a combination of factors. (Illustration: Internet)

In addition, recent statements by US President Donald Trump about the possibility of imposing higher tariffs on Chinese goods are also seen as a factor adding to market instability.

If US-China trade tensions escalate, coupled with a slowdown in energy consumption, oil prices could remain low for the foreseeable future. This would significantly impact the balance of trade and the budgets of many oil-exporting countries.

Source: https://baogialai.com.vn/gia-dau-the-gioi-tiep-tiep-lao-doc-post569160.html