New york: Oil prices fell by about three percent at settlement on Thursday. Brent crude futures dropped $1.91, or 2.75 percent, to $67.55 a barrel. West Texas Intermediate crude fell $1.85, or 2.84 percent, to $63.29.

According to National Iraqi News Agency, the decline in oil prices comes amid concerns about global demand and potential oversupply in the market. Traders have been closely monitoring economic indicators and geopolitical developments that could impact supply and demand dynamics.

Market analysts suggest that recent economic data may have triggered the sell-off, as investors reassess the prospects for economic growth and energy consumption. Additionally, the possibility of increased production from key oil-producing regions has added to the downward pressure on prices.

Despite the decline, some experts believe that oil prices could stabilize in the near term, depending on upcoming economic reports and policy decisions by major oil-producing countries. The market will continue to watch for signa
ls that could influence future price movements.