The price of oil WTI for the first time in history became negative
The price of may futures for oil of mark WTI for the first time in history became negative, inform the data of trading on the commodity exchange in new York.
The price of may futures for oil of mark WTI for the first time in history became negative, inform the data of trading on the commodity exchange in new York.
Prices for delivery in may fell by 162 percent to minus eleven, $ 42 per barrel. On the London exchange ICE the negative figure was 104 percent at 0, 75 USD per barrel.
Such unprecedented Prices due to the fact that Tuesday will be the last day for the sale of this oil. While storing these raw materials elsewhere - the demand is very quickly fell, and the storage is almost full.
June futures for WTI also falling by 18 % - up to $ 20 per barrel for North sea petroleum mix of mark Brent fell almost ten percent to 25, $ 43 per barrel.
The spread of the coronavirus caused a sharp drop in demand for oil products, as most countries have closed borders, and the company stopped work.
Quotes have also fallen due to the fact that in March, OPEC could not come to a consensus on a new deal. The Commonwealth has signed a new contract in mid-April, but this has not helped to stabilize Prices.
OPEC and international energy Agency expects record fall in demand for raw materials this year against the background of excess of oil on the market.
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