Brent crude falls below $85 a barrel

Brent crude falls below $85 a barrel
Photo by Jon Tyson / Unsplash

UPD: as of 17:40 Moscow timeframe oil has already fallen to $83.5 a barrel. Rumors about OPEC make a scenario of rebalancing demand in the oil market likely.

Meanwhile, WTI crude has fallen to $76 a barrel. It is already $4 below the target at which the Biden administration planned to replenish SPR reserves. Maybe soon the demand for oil in the world market will strengthen a bit.