Brent Crude Price Drops to $90.28 Amid Market Fluctuations

The price of Brent crude oil has dropped to $90.28 per barrel as of August 13, at 6:15 a.m. Eastern Time.

This represents a decrease of $1.32 or 1.44% from the previous morning's price, according to Fortune.

Over the past month, Brent prices have risen by 14.39% from $78.92 per barrel, while on an annual basis, they have increased by 38.53%, compared to August 13 of last year when a barrel was priced at $66.12.

The price fluctuations in oil are influenced by the balance of supply and demand, as well as market participants' expectations regarding future supply and consumption.