Brent oil continues to fall in price
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November oil futures for Brent grade as of 11:55 Moscow time is trading at $ 89.6 per barrel, follows from the quotes of the British stock exchange ICE. The maximum drop in futures value today, September 30, was fixed at $87.89/barrel, which is $0.6 less than the price at the close of the previous session. A gradual decline in the price of Brent futures has been observed since early June, when it reached a peak for the year of $116.18 per barrel.
Oil of the American brand West Texas Intermediate (WTI), on the contrary, shows moderate growth: now WTI oil futures is trading at $82.23, which is 1.18% higher than yesterday’s totals. Similarly, the spot price of crude oil is rising. Urals — up to $71.02/barrel (+1.44%).
From the beginning of September in Russia getting cheaper the main types of petroleum products in the wholesale market, which is facilitated by a surplus in the domestic market against the backdrop of export restrictions. Brent compared to the beginning of the month fell in price by approximately 20%, the OPEC+ ministerial meeting will take place on October 5, during which a potential reduction in the production quota is expected.
On a possible reduction in OPEC + production – in the material “Kommersant” “Time to turn the valve”.
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