Date: 2 months ago   Category: Economy

The price for barrel of the Brent brand has fallen lower than $70


The price for barrel of the Brent brand has fallen lower than $70
The cost of the January future for Brent crude oil at the auction in the Intercontinental Exchange (ICE) has fallen lower than $70 for barrel.

at the time of opening the price was $70,83, then has slowly begun to decrease, having reached value in $69,16, but after has a little won back and at the moment bargains on a mark of $69,55. Thus, decrease has made slightly less than 1,6%.

In parallel becomes cheaper also WTI crude oil: having the cost of $60,67 at the time of opening of the auction, then she has fallen to less than $59,9 for barrel.

the Price for a barrel of Brent crude oil rose up to $70 in January of this year, then has decreased almost by $9, but by April has jumped up to $74 again. After that cost continued to grow and by October 1 was record $85 for barrel. This situation has been connected with expectation of deficiency of oil in the market in connection with sanctions of the USA against Iran.

reduction of prices of hydrocarbons is caused Now by increase in production by three main players - Russia, the USA and Saudi Arabia which in total make nearly a third of all oil in the world (33 million barrels a day). At the same time the Russian Federation as wrote Ruposters, has conceded to the States superiority in the sphere of oil production.

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