Oil falls below $100 to lowest price in two weeks

US President Joe Biden failed to convince Saudi Arabia to significantly increase oil production during his recent trip to the region but the boosts endorsed by the OPEC+ alliance came into effect this month.
STEFANI REYNOLDS/AFP via Getty Images
A gas pump in Washington, DC, is pictured on March 31, 2022. - STEFANI REYNOLDS/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Oil prices fell again today, though they remain up over the year. 

The price of Brent crude oil, considered the global benchmark for global oil prices, opened at $99.24 a barrel today. The price last fell below $100 a barrel on July 12 and remained around there until July 15, when it went above $100 again. 

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