Brent fell to of 31.88 per barrel, WTI has lost 5.6% and is around $ 30 per barrel.
The price of Brent crude collapsed in the night of Monday, March 16. This is evidenced by trading on the London stock exchange ICE.
According at 1.22 Moscow time, the price of futures on North sea petroleum mix of mark Brent with delivery in may dropped by 6.2% to of 31.88 per barrel, the cost of April futures price of WTI crude fell 5.6% to $ 30.
Oil prices fell against the backdrop of the actual zero rate of the Federal reserve system of the United States. The fed decided to reduce the target range rate to 0-0. 25% in the struggle with the risks of coronavirus.
Previously, the drop in oil prices contributed to the failure of the negotiations of the countries-participants of the OPEC transaction+. As a result, from April 1 removed restrictions on oil production in the countries-members of the former Alliance.
This factor along with news about the spread of coronavirus has caused the largest collapse in world markets last week.