Oil prices drop to yearly lows

During trading on September 3, November futures for Brent crude oil fell by more than 3.5 per cent, reaching their lowest point of the year.

By 17:19 (GMT+1), the price had dropped to $74.44 per barrel, a level not seen since December 2023. Meanwhile, WTI crude fell to $71.10 per barrel, Caliber.Az reports, citing the data from the London ICE exchange.

The Intercontinental Exchange (ICE) is a prominent global exchange that plays a significant role in financial and commodity markets. Founded in 2000 and headquartered in Atlanta, Georgia, ICE operates a range of exchanges and clearing houses around the world, including its notable London-based entity, ICE Futures Europe.