London: On the London Intercontinental Exchange (ICE), Brent crude fell by $3.68 to $65.64 per barrel. On the New York Mercantile Exchange (NYMEX), Light crude dropped by $3.58, trading at $61.63 per barrel.

According to Azerbaijan State News Agency, the current decrease in oil prices is linked to multiple factors impacting the global market. The fluctuations in oil prices are often influenced by changes in supply and demand dynamics, geopolitical tensions, and economic indicators across the world.

The drop in Brent crude and Light crude prices is being closely monitored by market analysts and stakeholders. The current trend reflects ongoing challenges within the oil industry and could have broader implications for economies reliant on oil exports.

Market participants are advised to stay informed of further developments as these changes might impact future trading strategies and economic forecasts.