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From October 2017 oil prices have fallen



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Future transaction costs for the WTI class since October 2017 have damaged a record for credibility.

Photo: Pixabay

Photo: Pixabay

Oil prices began to fall on November 29. For the first time since October 2017, the WTI price was below $ 50 per barrel.

So the future payments for WTI oil in January for electronic commerce with the New York Mercantile Exchange (NYMEX), at noon. At 12:01 am Kiev time, it reached 49.8 dollars per barrel.

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The January futures on Brent crude futures on the London Stock Exchange ICE Futures reached $ 58.13 per barrel.

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On the eve of Nov. 28, oil futures contracts fell by more than 1.5% after the Energy Information Administration authorities published data on the growth of commercial oil reserves in the United States of 3.6 million barrels and an increase of 0.3 million barrels.

In In general, the fall of the oil market was caused by concerns over excess supply after the United States made an exception and allowed several countries to buy oil from Iran following the entry into force of sanctions against that country.

Earlier, Fitch Solutions lowered its forecast for Brent crude oil for 2019. Now the agency expects North Sea oil to cost $ 75 per barrel on average, instead of $ 81 per barrel, as expected in early November. FFitch's rotation solutions for WTI fell from $ 75 to $ 69 per barrel.

Ukrainian experts also warned: worsening in Azov may accelerate the collapse of oil prices.

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