Oil price plummeted sharply

June futures for WTI American oil collapsed sharply on Monday, April 27. About it testify trading data on the London ICE.

The cost of raw materials during one trading day fell by 28 percent. At the beginning of the trading session, a barrel of oil was worth 16.74 dollars, and as of 15:04 Moscow time, the price dropped to 13.05 dollars.

Brent oil is also becoming cheaper on Monday, but the fall in European standard crude is much less – 6.3 percent. At the beginning of trading, a barrel of Brent was worth 21.61 dollars, as of 15:04 it was worth 20.1 dollars.

Raw material prices in world markets are falling due to concerns about the filling of oil storage facilities and concern about the May Brent futures, which are due for execution on April 30. Investors fear a recurrence of a panic sale last week with WTI supply contracts. Then the cost of raw materials fell to minus $ 40 per barrel.