The price of a barrel of Russian Urals oil fell below $ 10, according to Refinitiv. At 12.13 Moscow time, Urals with delivery to the Mediterranean ports was sold at the price of December 1998 – $ 8.48 per barrel.
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Brent benchmark oil is also getting cheaper – June futures for the North Sea mixture at 12.11 Moscow time were traded on the London Stock Exchange at $ 19.32 per barrel. The price of Brent fell below $ 20 per barrel for the first time since February 2002. Last night, with the collapse of quotes for May futures for WTI, the barrel of Brent was worth $ 25.49.
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20 April happened The historic collapse in North American WTI oil prices. At first, it fell to $ 0.01 per barrel, and then its quotes became negative. May futures, which expire on April 21, were trading at – $ 40 per barrel.
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According to presidential spokesman Dmitry Peskov, the collapse of quotations at WTI is “a purely trading moment” and “this does not need to be given any apocalyptic color.” The country’s leadership has the necessary reserves to dampen the negative consequences for the Russian economy, Peskov emphasized.
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“As for all this whistle-blowing with futures, this is an absolutely speculative moment, a purely trading moment, which was associated with the closing date of futures trading. And, of course, this does not need to give some kind of apocalyptic color
