Crude oil prices on August 04, 2023 – Price per barrel

Oil prices are key indicators for the global economy and financial markets. The price of oil affects many sectors, from the automotive industry to energy, agriculture and transportation.

Comparing crude oil prices between 04 and 03 August, we note:

• WTI crude oil price increase from 81,55$ to 82,82$
• Brent oil price increase from 85,14$ to 86,24$
• OPEC basket price increase from 85,47$ to 87,95

The following is an overview of key oil price data as of 04 August 2023, based on the following benchmarks:

Oil price per barrel in dollars

Factors influencing the price of oil

Oil prices are influenced by a multitude of factors, such as global supply and demand, geopolitical tensions, the production policies of exporting countries, global economic conditions and currency fluctuations. These factors can lead to daily changes in oil prices on international markets.

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