Monday, June 22, 2020, the price of oil fell slightly due to concerns that the increasing number of morbidity worldwide can slow down the recovery in oil demand, outweighing the supply reduction from large producers.
Futures for Brent crude with August delivery on Monday morning during the auction fell in price to 42,10 dollars per barrel, reports Bloomberg.
According to the newspaper as of 8:02, the price of futures for Brent crude oil fell 0.21%.
The price of July futures on WTI fell to 39,70 USD per barrel, losing 0.13 percent.
Recall that the global oil market March 9, survived “black Monday” — the largest sharp drop in prices since 1991 when the war in the Persian Gulf. After that, the oil market has been a number of collapses of prices on the background of the situation with coronavirus and restrictions due to pandemic in the largest economies of the world, leaving a market overwhelmed by a sharp decrease in demand and an excessive oversupply of crude oil.