11:30 - 16.04.2020

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April 16, Fineko/abc.az. Prices for oil of standard grades are changing slightly and in different directions on Thursday after a strong drop the day before, caused by the demand forecast from the International Energy Agency (IEA).

By 9:15 am, at the London ICE Futures Exchange Brent crude futures for June rose in price by $0.17 (0.61%) up to $29.86 per barrel.

Following the trading on 15 April at the ICE Futures Exchange the price for June’s Brent oil futures fell by $1.91 (6.5%) to $27.69 per barrel.

By 9:15 am, at the New York Mercantile Exchange (NYMEX) the WTI futures for May fell by $0.06 (0.3%) to $19.81 per barrel.

At the end of trading on 15 April at the NYMEX Exchange the price of May’s WTI oil futures fell by $0.24 (1.2%) to $19.87 per barrel.

The IEA has released a forecast that global oil demand will decline by a record 9.3 million b/d in 2020. In April, according to the IEA estimates, the global oil demand will be 29 million b/d less than a year earlier, and in the second quarter - 23.1 million b/d lower year-on-year. The Agency also predicts that the free capacity of oil storage facilities will run out in May.