Oil prices continue to decline

Oil prices continue to decline on Wednesday, February 22, after declining in the previous trading session, as investors assess the forecasts of global fuel demand amid uncertainty about the state of the global economy.
According to Ukrinform, this was reported by enkorr.

Quotes for April futures for Brent crude oil on the London ICE Futures exchange decreased by $0.27 (0.33%) to $82.78 per barrel. On Tuesday, these contracts fell by $1.02 (1.2%) to $83.05 per barrel.

The price of April futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) fell by $0.27 (0.35%) to $76.09 per barrel. As a result of the previous trading, the value of contracts decreased by $0.19 (0.3%) to $76.36.

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Market attention is focused on the publication of the minutes of the Federal Reserve meeting on Wednesday, Bloomberg notes.

"Expectations of a more hawkish stance by the Fed continue to grow, which puts strong pressure on the oil market," said Warren Patterson, head of commodity strategies at ING Groep NV in Singapore.