Transactions have shown that the world oil prices continue to drop against the backdrop of a decision by the People’s Bank of China to devalue the country’s national currency, the yuan.   

Accordingly, the September Futures’ Brent Crude Oil has fallen by 0.53 percent and reached $48.87, per barrel.

And the September Futures’ Light Sweet Crude Oil (WTI) has dropped by 0.44 percent and made up $42.89, per barrel, reported the Gazeta.ru Russian news site.

Another additional negative signal is the fact that members of the Organisation of the Petroleum Exporting Countries (OPEC) have increased oil production, thus, increasing market supply.