International oil prices fell sharply on the 16th.

As of the close of the day, the price of light crude oil futures for delivery in July on the New York Mercantile Exchange fell by $4.70 to $76.05 per barrel, a decrease of 5.82%; while the price of Brent crude oil futures for delivery in August fell by $4.21 to $78.96 per barrel, a decrease of 5.06%.