11:19 - 29.03.2021

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March 29, Fineko/abc.az. Oil prices of benchmark grades in Monday’s trading are declining amid the news of the removal of a container ship from the shoal, which blocked the Suez Canal last week.

By 9:13 am, in the trading at the London ICE Futures Exchange the May’s Brent crude futures fell by $1.43 (2.21%) to $63.14 per barrel. Following the trading on 26 March the price of Brent crude oil futures for May increased by $2.62 (4.23%) up to $64.57 per barrel.

By 9:13 am, at the New York Mercantile Exchange (NYMEX) the price of the May’s WTI oil futures fell by $1.52 (2.49%) to $59.45 per barrel. At the end of trading on 26 March the WTI futures for May rose in price by $2.41 (4.12%) up to $60.97 per barrel.

At the end of last week WTI crude oil showed a decline for the third week in a row, falling by 0.8%. Brent crude for the week rose by $0.04 per barrel, which is less than 0.1%.

Rescue teams have lifted container ship Ever Given, which has blocked traffic in the Suez Canal for almost a week. Approximately 10% of the world's offshore oil supplies pass through the canal.