Oil Prices Plummet on August 25th Amid Significant Declines

Oil prices have declined significantly on August 25th, with both WTI Crude Oil and Brent Crude Oil experiencing losses.

According to reports from Armenpress, WTI Crude Oil prices at the NYMEХ Stock Exchange dropped by 6.04% to $80.30 per barrel. Meanwhile, Brent Crude Oil prices at London's IСE Stock Exchange declined by 6.76% to $86.25 per barrel.

The NYMEХ is a leading US futures market founded in 1882, ranking first in oil futures trade. The exchange operates through two divisions: the NYMEX Division and the COMEX Division. The former focuses on trades of oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions, while the latter handles gold, silver, copper, and aluminum.

London Intercontinental Exchange (ICE) is a London-based options exchange founded in 1982, operating as a leading global exchanges operator. The exchange measures oil volume in barrels, with one barrel equal to 159.98 liters.