Will oil prices go down? Oil moderately fell on Friday morning after a rise earlier in the day on data on a sharp decline in energy resources stocks in the U.S.

In the last five trading sessions, contracts for both grades have fallen in price by almost 2%, while during the week quotes reached their lowest since January on fears over a possible economic downturn.

“Concerns about the onset of a recession persist among traders in key markets, including the U.S. and Europe. The market is worried about future demand,” Fitch Solutions analysts said.

At the same time, investors focused on developments around the Iran nuclear deal. According to reports from diplomats and media, the sides are as close as possible to a final agreement which may result in extra barrels of oil coming to the market.

Did oil prices go down? 

The price of October futures for Brent at London’s ICE Futures Exchange is $96.18 per barrel, down $0.41 (0.42%) from the close of the previous session. Following the previous session, these contracts grew by $2.94 (3.1%) to $96.59 per barrel.

WTI September crude futures had fallen by $0.38 (0.42%) to $90.12 per barrel in New York Mercantile Exchange (NYMEX) trading by that time. On Thursday, WTI gained $2.39 (2.7%) to $90.5 a barrel.

Earlier we reported that natural gas prices in Europe exceeded $2,600.