The price of Brent fell below $75 per barrel for the first time since March 27 – Kommersant
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The cost of July futures for Brent crude on the ICE exchange decreased by 0.8% to $74.71 per barrel. It dropped below $75 for the first time since March 27. By 10:49 Moscow time, the price of Brent is trading at $75. Futures for WTI crude oil is falling in price by 1%, to $70.94 per barrel.
Yesterday, May 2, the Ministry of Finance informedthat the average price of Urals oil in January-April was $51.05 per barrel. This is 1.65 times less compared to the same period in 2022 ($84.68 per barrel).
Bank of America expectsthat the cost of Brent in 2023 will rise to an average of $100 per barrel in 2023. At the end of April, Brent was trading at around $78 per barrel. Since May 1, OPEC+ countries have begun to reduce oil production.
About the situation on the market – in the publication “Kommersant” “The barrel rolls around”.
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