Brent crude on London’s ICE Futures exchange dropped in price to $of 37.36 per barrel, while the barrel of WTI is now worth $by 35.12.
World oil prices reference marks continue to decline on the statistics about record stocks of raw materials in the United States. This according to the auction on Friday morning, June 12.
So, the August Brent crude on London’s ICE Futures exchange fell $1,19 (of 3.09%) to $of 37.36 per barrel.
The cost of the futures on WTI for July in the electronic session on the new York Mercantile exchange (NYMEX) decreased by $1,19 (3,27%) to $to 35.15 per barrel.
The spread between the current contracts for Brent and WTI of $2.23 in favor of Brent.
Yesterday it was reported that the price of oil fell below $40 a barrel. This happened after the US Department of energy released data on record reserves of “black gold” – over the past week increased to 5.72 million barrels, and on June 5 reached 538,065 million barrels.
On 8 June oil was trading above $43 on the maximum of three months.
Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my firstname.lastname@example.org 1-800-268-7128