Sell-off in energy markets: Oil falls more than 5%
Istanbul, July 27 (Hibya) – Selling pressure accelerated across energy commodity markets. Brent crude and WTI crude prices fell by more than 5%, while natural gas and refined fuel products also posted notable declines.
Global energy markets were dominated by selling on the final trading day of the week.
Concerns over the demand outlook and profit-taking by investors triggered sharp declines in oil and energy product prices.
U.S. West Texas Intermediate (WTI) crude oil futures fell 5.35% to $84.53. Global benchmark Brent crude declined 5.10% to trade at $91.84.
Natural gas prices also came under selling pressure. U.S. natural gas futures dropped 2.96% to $2.786.
Refined fuel products also moved lower. RBOB gasoline futures fell 2.96% to $3.2955, while ULSD Heating Oil futures lost 1.60% to trade at $4.1136.
The broad retreat across energy markets signals strengthening selling pressure in the commodity complex, particularly in oil. Investors continue to closely monitor the global economic outlook, supply-demand dynamics, and geopolitical developments for new signals.
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