Brent crude prices fell to $ 40.18 per barrel

RIA Novosti

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RIA Novosti

Russia, Moscow, Zubovsky Boulevard, 4

7 495 645-6601


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RIA Novosti

Russia, Moscow, Zubovsky Boulevard, 4

7 495 645-6601


https://xn--c1acbl2abdlkab1og.xn--p1ai/awards/

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oil prices, brent, usa, oil, economy

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MOSCOW, Jun 29 – RIA News. Oil prices on Monday morning are falling significantly on concerns about the coronavirus and its impact on commodity demand, trading data show.

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As of 7.48 Moscow time, the price of September futures for the North Sea brand oil mix Brent it sank 1.88% to $ 40.18 per barrel. August futures for WTI crude oil fell 2.21% to $ 37.64 per barrel.–

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June 25, 08:00

The future of global energy lies in a fog of uncertainty—

August futures for Brent crude oil meanwhile fell by 2% – up to $ 40.2 per barrel.

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The number of cases of coronavirus worldwide continues to increase, forcing some countries to return quarantine restrictions. So in USA California authorities followed the authorities of Texas and Florida ordered to close the bars in several counties of the state, including in Los Angeles. Investors fear that new quarantine measures will again lead to lower demand for fuel.–

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June 24, 08:00

European analysts: “Russia will not save us from the crisis”—

“The fears of the second wave are alive and well. It limits the bullish sentiment we’ve seen in the last six to eight weeks,” Howie Lee, an OCBC Bank economist, told Reuters. According to him, high oil reserves and the resumption of growth in US production also put pressure on quotes.

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“In the next one to two weeks, we should see an increase in the number of drilling rigs commensurate with an increase in oil production,” Lee said.

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