Oil keeps on falling

03.06.2019,11:55


June 3, Fineko/abc.az. Azerbaijani oil Azeri Light has decreased in price by $2.66 (3.81%) to $69.09 a barrel.

The prices for oil of standard grades continue dropping on Friday after sharp fall by 3.7% a day before.

Following the 31 May trading at the New York Merchant Exchange (NYMEX), the WTI oil futures for July fell in price by $3.09 (5.46%) to $53.50 a barrel.

In Monday’s trading the cost of WTI oil futures for July declined in price by $0.50 (0.93%) to $53.00 a barrel by 09:25 am.

Following Friday’s trading at the London ICE (InterContinental Exchange Futures; ICE Futures) the price of contracts of July’s futures of Brent oil decreased by $3.34 (5.11%) to $61.99 a barrel.

August’s futures for Brent decreased in price by $0.77 (1.24%) to $61.22 a barrel by 09:25 am on Monday.

The cost of Brent dropped by 8.8% for the week, in May fell by 16.3% - the maximum decline since November. The cost of WTI for the week decreased by 6.1% and for the month by 11.4%.