Oil prices fall on world markets

(Patria) - Oil prices fell significantly today after a large increase last week.

Traders were concerned about the lockdown in Shanghai, which could lead to a decrease in oil demand in China, the world's largest oil importer.

On the London market this morning, the price of a barrel fell 2.6 percent, to $117.50, while on the American market, a barrel became cheaper by 2.9 percent, to $110.55.

On currency markets, however, the value of the dollar against a basket of currencies rose further, after strengthening by 0.6 percent last week.

The dollar index, which shows the value of the US dollar against the other six most important world currencies, is around 99.08 points, while on Friday evening it was 98.78 points.

The exchange rate of the dollar against the Japanese yen jumped from 122.05 to 123.05 yen, a new six-year high, after the Japanese central bank intervened to prevent a rise in bond yields.

The American currency also strengthened against the European one, so the price of the euro slipped to $1.0955, while on Friday evening it was $1.0985.