Global oil prices fall again Monday morning by more than 1%. Investors are evaluating a lot of factors – both on the demand and supply side, according to trading data.

The price of October futures on Brent crude fell by 1.12%, to $97.05 per barrel, while September futures on WTI crude fell by 1.13%, to $91.05.

Why are gas prices falling? 

Oil prices are declining Monday morning, helped by a lot of factors. The negative effect on oil quotations was exacerbated by Chinese statistics: industrial production grew by 3.8% YoY in July, while analysts forecast a 4.6% increase. Such statistics were facilitated by resumed coronavirus restrictions with the “zero disease” policy.

Markets also continue to assess factors pointing to an increase in the supply of “black gold. Investors are following talks between the U.S. and Iran about a possible resumption of oil supplies from Iran.

“Renewed coronavirus restrictions in China are putting pressure on demand amid recession fears, while supply concerns have eased,” said Vandana Hari, founder of Vanda Insights, a consulting firm in Singapore, as quoted by Bloomberg.

We previously reported that imports of gold in India fell 30% in January-July.