From the start of trading on Tuesday, 28 April, the price of oil on world markets continued to fall. Futures for benchmark Brent and WTI falling by more than ten percent until August, according to data the London exchange ICE.
the June Brent contract as of 8:30 Moscow time has fallen to 19.08 per barrel, while the July — to 22.35 USD. WTI crude oil falls even more. The June futures to 11.18 of the dollar, and in July to 16.4 dollar. All other futures on both brands up to December, falling to 3-8 per cent.
the Collapse comes amid concerns about overflow storage of crude oil worldwide, as well as a slower recovery of demand for raw materials than previously expected.
American crude is also under pressure because of the actions of exchange players who are looking for ways to sell June futures and swap them in later contracts. They fear a repeat of the situation last week, where the value of may contracts for WTI fell to nearly minus 40 dollars per barrel.
the Russian “LUKOIL” does not exclude that the same situation may occur with brand Brent, if the situation with the European storages will repeat us.
