The price of Brent oil fell below $71 a barrel for the first time since December 2021
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The cost of May futures for Brent crude on the ICE exchange fell by 2.73% to $70.97 per barrel. It fell below $71 for the first time since December 2021. Futures for WTI crude oil is getting cheaper by 2.66% to $65.13 per barrel.
By forecast Bank of America, the cost of Brent in 2023 will increase to an average of $100 per barrel. The expected growth is due to a recovery in demand for oil in China, coupled with a reduction in oil supplies from Russia. Meanwhile, the Urals discount to Brent continues decline.
Read more about the situation on the market – in the material “Kommersant” “Russian oil is asked to bend down”.
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