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Oil keeps on falling rapidly, WTI is traded at $11 and Brent at $19 a barrel

28.04.2020,11:25


April 28, Fineko/abc.az. Oil is becoming cheaper due to the unwillingness of investors to have contracts in the portfolio under the conditions of increasing overproduction. Everything points to an increase in the excess supply of oil and the exhaustion of storage capacity.

By 8:35 am, on the London ICE Futures Exchange, Brent crude futures for June fell in price by $0.93 (4.65%) to $19.06 per barrel.

Following the trading on 27 April on the ICE Futures Exchange, June’s Brent crude futures fell in price by $1.45 (6.76%) to $19.99 per barrel.

By 8:35 am, on the New York Mercantile Exchange (NYMEX), the price of WTI futures for June fell by $1.68 (13.15%) to $11.10 per barrel.

At the end of trading on 27 April on the NYMEX, June’s WTI oil futures fell in price by $4.16 (24.56%) to $12.78 per barrel.