Brent variety price August 19 to 10:40 Moscow time fell to $ 66.87 per barrel, the data of the London Exchange ICE. The cost dropped by 1.9 percent and during the auction lowered even below this level.
These values have become a record for almost three months: the last time the oil cost less than 67 dollars on May 24. WTI is trading at 63.93 dollars per barrel (minus 2.3 percent).
Oil prices are decreasing within a few days on the background of outbreaks of incidence of coronavirus in the world, which led to concerns about the further decline in demand, Reuters writes. The pressure also has a strengthening of the dollar.
On August 11, Washington appeals were led to the fall in prices, which offered organizations of countries – oil exporters and allies to increase production to curb prices for gasoline. According to the United States, increasing production of 400 thousand barrels per day, which the participants of OPEC +, “simply not enough”.