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Oil prices drop, Brent is traded at $21 per barrel

27.04.2020,11:18


April 27, Fineko/abc.az. Oil is getting cheaper because of concerns about an oversupply that could lead to the exhaustion of storage capacity and cause a new collapse of prices for futures.

By 8:50 am, on the London ICE Futures Exchange the Brent crude futures for June fell in price by $0.38 (1.77%) to $21.06 per barrel.

At the end of trading on 24 April on the ICE Futures Exchange June’s Brent crude futures rose by $0.11 (0.52%) to $21.44 per barrel.

By 9 am, on the New York Mercantile Exchange (NYMEX) the price of WTI futures for June decreased by $1.41 (8.32%) to $15.53 per barrel.

At the end of trading on 24 April on the New York Mercantile Exchange (NYMEX), the June WTI oil futures price increased by $0.44 (2.7%) to $16.94 per barrel.