The price of oil WTI for the first time in history fallen below eight dollars
Futures price of WTI crude oil for may delivery for the first time in history fallen below eight dollars a barrel, informed the auction.
Futures price of WTI crude oil for may delivery for the first time in history fallen below eight dollars a barrel, informed the auction.
The cost of may futures fell almost 58 % - up To 7, 75 dollars per barrel. Until today, the historical minimum was 9, 75 dollars per barrel.
The price of the June futures of WTI fell almost ten percent To 22, $ 62 per barrel. For its part, the futures Price for delivery in June, North sea petroleum mix of mark Brent fell by five percent To 26, 71 dollars per barrel.
Traders continue to sell the asset as the term of trading of the may futures contract expires on Tuesday.
Pandemic coronavirus, covering in practice all countries of the world, caused a record drop in demand for raw materials. Prices for petroleum products also fell very quickly due to the inability of OPEC to reach consensus on the renewal of the contract or parameters of the output reduction.
in early April, prices began to rise against the background of the Epistles of the new agreement. In the end the deal was concluded, and the decline in production in the next two months will be 9, 7 million barrels of oil. But this has not helped to stabilize Prices as the international energy Agency and OPEC also forecast a further record drop in demand for raw materials.
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