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London: The price of oil and gas in the world market has decreased by 3%. British crude oil Brent oil is selling at 87 dollars while American crude oil WTI is selling at 82 dollars per barrel.
The price of gas in the world market is 1.68 dollars per mmbtu with a decrease of 3%. Until two days ago, experts were predicting that the price of crude oil in the world market could go up to 100 dollars per barrel.
However, oil prices have now fallen by 3 percent due to fears of oil supply disruptions due to the Iran-Israel conflict and a new war in the Middle East.