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Brent drops to $ 64.1

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Brent drops to $ 64.1
December 10
09:00 2019

On Tuesday morning, the energy market continued its smooth decline. Experts believe that the direction of the price movement may change due to the good news about the course of negotiations between the States and China.

At 8:20 Moscow time, Brent crude oil futures lost l 0.23% or 0.15 US dollars and are currently trading at 64.1 US dollars per barrel. During the yesterday’s trading session, the asset fell 0.22% (or $ 0.14) and closed the session at $ 64.25 per barrel.

WTI also shows a slight decrease. The asset fell by $ 0.15 ( by 0.25% in relative terms). Currently, one barrel of the overseas oil can be purchased for $ 58.87. Yesterday, futures dropped by 0.3% and ended the session at around 59.02 US dollars per barrel.

The rally began to decline after the OPEC+ statements. In fact, an additional reduction in production ( in which Saudi Arabia will play the main role ) was agreed upon.

Fatih Birol, director of the International Energy Agency, said yesterday that the next year should not be more volatile than the current one. He believes that only serious geopolitical upheavals can cause such fluctuations.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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