Date: 4 days ago   Category: Financial

Price of oil has fallen to a minimum for half a year


Price of oil has fallen to a minimum for half a year
Oil becomes cheaper the fifth week in a row. Brent has fallen lower than 70 dollars for barrel for the first time since April. The world prices for oil at the auction on Friday, November 9, have accelerated decrease on fears of surplus of fuel in the world market. So, January futures for Brent at the London's ICE Futures Exchange have fallen in price by 12:05 by $0,63 (0,89%) - up to $70,02 for barrel. Earlier during the quotation session for the first time since April 10 lower than $70 for barrel fell. The cost of the future for WTI for December at an electronic session on the New York Mercantile Exchange (NYMEX) has decreased by $0,5 (0,82%) by this time - up to $60,17 for barrel. Since the beginning of week of Brent WTI - for 4,7% has fallen in price by 3,85%. Both brands are going to finish in minus the fifth week in a row. As writes Interfax, oil becomes cheaper in the run-up to the meeting of monitoring committee of OPEC which will take place on the future days off. Participants of the market hope that ministers of oil-producing countries will discuss a possibility of decrease in production in 2019. We will note, at the beginning of October of price of oil have exceeded 86 dollars that became a record for the last four years. Since then raw materials constantly become cheaper. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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