According to the specialist, one of the key factors that remains in force now is the expectation that the second half of the year for both the European and American economies will be much more difficult than the past first six months.
“And the second is that central banks – both the ECB and the Fed – are forced to more actively fight inflation, respectively, raise rates, reduce the liquidity available on the market, which leads to speculators leaving the commodity markets.
And this, together with the expectation of weaker demand, and in recent days, several research agencies have announced expectations of lower oil consumption in the world this year and next year - together these factors influence the fact that oil prices are falling, - Kondratiev emphasized.
The expert added that if we talk about sharp price fluctuations, then the general state of the market plays a big role.
“With a high probability, we will see a certain rebound upwards, this situation characterizes general nervousness, so we see high volatility,” the RT interlocutor concluded.
Earlier it was reported that world oil prices are falling during trading on Monday, August 15.
The price of a futures contract for Brent crude oil for delivery in October 2022 during trading fell by 4.94% to $93.30.
September futures for WTI crude fell 4.89% to $87.59 per barrel.