Over the past three sessions, Brent and WTI brands have lost more than 9% in price, despite the easing of quarantine in China and initiatives to limit supplies from Russia.
World prices for reference grades of oil have continued to decline significantly and have consolidated at a level below $80 per barrel. This was confirmed by trading data on Wednesday, December 7th.
Thus, the futures price for Brent crude oil for February delivery on the London ICE Futures exchange fell by $1.51 (-1.90%) to $77.84 per barrel.
In turn, WTI crude futures for January delivery on the New York Mercantile Exchange fell $1.39 (-1.87%) to $72.86 a barrel.
Market analysts note that prices for “black gold” are falling, as fears about future demand are greater. Over the past three sessions, both Brent and WTI have lost more than 9% in price. This happened against the backdrop of the easing of quarantine restrictions in China and the entry into force of the European embargo on Russian oil supplies, as well as initiatives to introduce a ceiling on oil prices from Russia.
before Correspondent.net wrote that the embargo and the price ceiling for Russia worked. Oil is getting cheaper. Although Russian President Vladimir Putin warned of “serious consequences” due to the oil price cap.
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Source: korrespondent
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