Oil price keeps on falling, Brent is traded below $50 per barrel

11:43 - 6.03.2020


March 6, Fineko/abc.az. Prices for oil continue declining after a day earlier they ended trading at the lowest level for more than two years.

Following the trading on 5 March at the London ICE Futures Exchange, the price of May’s futures for Brent oil fell by $1.14 (2.23%) to $49.99 per barrel. By 9:15 am, Brent futures for May fell by $0.63 (1.26%) to $49.36 per barrel.

Brent crude finished the trading below $50 per barrel for the first time since mid-2017.

Following the trading on 5 March at the New York Mercantile Exchange (NYMEX), April’s WTI oil futures decreased in price by $0.88 (1.88%) to $45.9 per barrel. By 9:25 am, WTI futures for April dropped by $0.55 (1.20%) to $45.35 per barrel.

Since the beginning of this week Brent and WTI have lost about 2% of their value.

Azerbaijani crude oil Azeri Light decreased in price by $0.44 (0.81%) to $53.88 per barrel.

 

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