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Oil cheapens, and Brent is at $55.40 a barrel

11.01.2021,11:53


January 11, Fineko/abc.az. The prices for oil of standard grades are decreasing in Monday’s trading, after last week’s growth.

By 9:38 am, at the London ICE Futures Exchange the price of March’s Brent crude futures fell by $0.59 (1.06%) to $55.40 per barrel. At the end of trading on 8 January the Brent futures for March jumped in price by $0.08 (0.15%) up to $54.38 per barrel.

By 9:38 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for February declined in price by $0.35 (0.67%) to $51.89 per barrel. Following the trading on 8 January the WTI oil futures for February grew by $0.20 (0.4%) up to $50.83 per barrel.

Oil prices increased by an average of 8% following the past week.