10:47 - 7.09.2020

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September 7, Fineko/abc.az. Oil is cheapening on Monday amid the news that Saudi Arabia’s state oil company, Saudi Aramco, intends to cut prices in October for all types of oil for buyers from Asia and the U.S.

By 9:40 am, at the London ICE Futures Exchange the Brent crude futures for November fell in price by $0.56 (1.31%) to $42.10 per barrel. At the end of trading on 4 September the price of Brent crude futures for November fell by $1.41 (3.2%) to $42.66 per barrel.

By 9:40 am. at the New York Mercantile Exchange (NYMEX) the WTI crude futures for October fell by $0.64 (1.61%) to $39.13 per barrel. At the end of trading on 4 September the price of WTI oil futures for October fell by $1.60 (3.87%) to $39.77 per barrel.

Following the last week Brent fell by 6.9% and WTI by 7.5%.