Coronavirus, what are you doing? Prices on oil futures fell to $1
World oil prices continued to decline on Monday, April 20, and the price of American oil WTI have fallen by tens of percent to the lowest price in history amid fears of investors about the crowded tanks in the conditions of record low global demand. WTI is one of those moments was worth only a cent.
The price of Brent crude oil decreased by $ 1.5, or 5.3%, to 26.58 per barrel, while the may futures of WTI fell by 9.43 USD or 51.6%, to 8.84 per barrel, reported in the evening Reuters. June futures for WTI fell as much 10 percent to 22.4 percent. June futures on Brent fell by 5.5% to 26.6 per dollar.
Then price collapse intensified. According to the Agency Bloomberg, for the 20 hours may futures of WTI fell to $ 3 and in 10 minutes the price has fallen below $ 2 per barrel. This is the first time since 1983, when oil futures began to be traded on the exchange. 20:50 Moscow time the barrel of us oil fell to $ 0.9. And according to 21 times, the price of may futures for delivery of WTI reached $ 0.01 per barrel.
One of the experts joked: “actually, nothing terrible happens. Yet. But it’s fun.”
