Oil prices are falling after jumping to their highest since 2014. They fell sharply on Tuesday after hitting an almost seven-year high during a highly volatile session after the failure of the OPEC + meeting.

Markets were expecting an agreement from members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies via the OPEC+ deal for a production increase of some 400,000 barrels per month until the end of the year. end of the year. The failure gave markets reason to believe that supply could remain limited for a few months, which briefly pushed prices higher on Tuesday to their highest since 2014.

A barrel of Brent North Sea oil for September delivery ended at $74.53 in London, down 3.40% or $2.63 from the previous day's close. In New York, a barrel of WTI for the month of August dropped 1.79 dollars or 2.38% to 73.37 dollars.