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WTI US Oil Prices USA They showed the sharpest one-day decline in stock trading history amid fears of further contraction in demand and a rapid filling of oil reserves.
Illustration / REUTERS
On Monday night, April 20, the price of the American brand of oil WTI fell by hundreds of percent to the lowest price in history. The WTI fell to -38.40 dollars per barrel.
Bloomberg reports on this.
Brent crude fell $ 1.5, or 5.3%, to $ 26.58 per barrel, while May futures on WTI fell $ 9.43, or 51.6%, to $ 8.84 per barrel. June futures on the WTI did not drop as much, 10% to $ 22.4 a barrel. June futures on Brent fell 5.5% to $ 26.6.
After that, the price collapse intensified. At 8:22 p.m. Kiev time, the May WTI futures fell to $ 3, and within 10 minutes the prices fell below the $ 2 mark.
Also readOPEC expects historic drop in oil demand due to coronavirus
At 20:50 the barrel of United States oil has fallen in price to $ 0.9. And as of 8:56 pm, the May futures for the delivery of the WTI reached $ 0.01 per barrel.
At 9:29 pm, the May futures price for WTI supplies fell to $ -38.40 per barrel.
Bloomberg photo.
According to Mash, the price of oil of the Russian brand Urals collapsed to – $ 2 a barrel.
It was previously reported that producers from the Organization of the Petroleum Exporting Countries and its allies, led by Russia, agreed to reduce oil production and production by more than 20%. OPEC + reached such an agreement in the negotiations on April 10.
To support world oil prices, the OPEC + Group agreed in May and June to reduce its production by 10 million barrels per day or 10% of world supplies.
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