WTI oil price up 27%

Ordo News EditorMay 24, 2020Last Updated: May 24, 2020

3,506 1 minute read

US, WASHINGTON (ORDO NEWS) — The price of June futures for WTI crude oil rose 27.14% to $ 14.71 per barrel. This is evidenced by trading data on Wednesday, April 22.

At the same time, June Brent crude futures rose to $ 21.60 – by 11.74%, reports RT.

Last Monday, the price of WTI American oil plummeted. First, the price reached the level of April 1, 1986 – $ 10 per barrel, and then for the first time in history fell below $ 8 and continued to fall.

As a result, the price of WTI oil dropped to $ 0, and after that it became negative. At the minimum of trading, the cost of the May WTI futures was minus $ 40.32 per barrel.

In addition, Russian Energy Minister Alexander Novak believes that the situation with the decline in WTI oil prices should not be dramatized, as this, in his words, is a “paper market”.

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