The price of Brent oil has fallen below $85 a barrel for the first time since January. Ongoing concerns about slowing global economic growth have been driving prices down for some time now.
Brent oil is the benchmark for oil from, for example, the North Sea and the Middle East.
Central banks worldwide are raising interest rates to curb inflation. This puts pressure on the economy and also reduces oil demand. In addition, the Russian invasion of Ukraine and the corona lockdowns in China have also hit the oil demand.
On Monday, a barrel of Brent oil had to be paid $84.83 before trading. That represented a decrease of 1.7 percent. American oil also became cheaper. A barrel of WTI costs 1.6 percent less, at $ 77.45.