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Oil prices keep on falling

26.02.2020,11:26


February 26, Fineko/abc.az. Oil prices are rising on Wednesday after falling the day before.

Concerns that epidemic CoViD-19 will lead to a serious drop in global oil demand have been putting pressure upon the oil market since the beginning of the year.

Following the trading on 25 February at the London ICE Futures Exchange, the price of April’s futures for Brent oil fell by $1.35 (2.4%) to $54.95 per barrel. By 9:25 am, Brent futures for April grew by $0.30 (0.55%) up to $55.25 per barrel.

At the end of trading on 25 February at the New York Mercantile Exchange (NYMEX), April’s WTI oil futures fell by $1.53 (2.97%) to $49.90 per barrel. By 9:25 am, WTI futures for April increased in price by $0.39 (0.78%) up to $50.29 per barrel.

Azerbaijani crude oil Azeri Light rose by $0.02 (0.03%) up to $57.59 per barrel.