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The price of a barrel of Brent fell 2.4% to $ 53.19. During the session, prices first went up, then there was a big drop. Thursday night, December 27, the barrel dropped to $ 52, but prices rose.
March futures fell to $ 52.6 and then to $ 53.78. According to RBC, the daily decline is 1.8%.
It is noted that on Wednesday, December 26, oil prices rose significantly after a long decline. Due to rising prices of 8%, Brent crude reached $ 54. Reuters thinks that oil has started to grow behind the US market. However, among traders, the trend was down.
Recall that the price of oil reached an annual high of $ 86 for fear that new sanctions against Iran would lead to a market deficit. However, the other exporters having managed to fill the gap, prices have fallen.
Petroleum Price Schedule
It should be noted that oil is the main item of Russian exports. In addition, natural gas prices are highly dependent on the price level of oil and petroleum products. Russia has already recognized the fact that the sanctions imposed by the United States and the European Union have hurt the country's oil and gas production.
According to OBOZREVATEL, on December 26, the cost of Brent oil delivered in February 2019 had fallen by auction at the ICE Exchange in London up to $ 50 a barrel, discounting the lows from July to August 2017.
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