A few moments later, however, the price dropped slightly to $ 24.66 a barrel.
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Brent futures for July delivery have risen this Sunday to $ 25.09 per barrel in the midst of the global demand crisis due to the coronavirus pandemic.
A few moments later, however, the price dropped slightly to $ 24.66 a barrel.
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Futures for June delivery of this brand fell 3.17% to $ 20.76 per barrel.
The price of West Texas Intermediate (WTI) oil futures lost 9.86%, and is at $ 15.27 per barrel.
On April 12, the members of the Organization of Petroleum Exporting Countries and allies (OPEC +) signed an agreement to reduce oil production at 9.7 million barrels per day in a period of the months of May and June.
On April 10, Dmitri Peskov, the spokesman for Russian President Vladimir Putin, declared that the new agreement “will have a positive and stabilizing effect in world energy markets “and will help avoid chaos in the global economy.
Historic crash
On Monday, the price for WTI futures for May delivery turned negative for the first time in history, dropping to -37.63 dollars per barrel.
The fall in WTI caused the price of Brent crude for June delivery to drop 7.8% to less than $ 26 a barrel. Futures for immediate delivery of the oil of the Russian brand Urals also began trading at a negative price of up to $ -2 per barrel on April 20.
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