11:32 - 26.10.2020

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October 26, Fineko/abc.az. Oil prices are declining in Monday’s trading because of the prospects of deterioration in the oil demand due to the growing incidence of Covid-19 in the world.

By 9:25 am, at the London ICE Futures Exchange the Brent crude futures for December collapsed in price by $0.71 (1.7%) to $41.06 per barrel. At the end of trading on 23 October the price of Brent crude futures for December fell by $0.69 (1.63%) to $41.77 per barrel.

By 9:25 am, at the New York Mercantile Exchange (NYMEX) the WTI crude futures for December fell by $0.71 (1.78%) to $39.14 per barrel. At the end of trading on October 23, December WTI futures fell in price by $0.79 (1.94%) to $39.85.

Last week, Brent crude fell by 2.7% and WTI crude by 3.1%.