Oil prices began to decline on September 21, 2020, after the maximum jump since June.
AxiCorp experts noted that the market remains sensitive to the economic recovery amid the coronavirus pandemic.
The cost of November Brent oil futures on the London ICE Futures Exchange by 08:10 (Moscow time. - chernayakobra.ru) on Monday (September 21, 2020 - chernayakobra.ru) is $ 43.09 per barrel, which is $ 0.06 (0.14%) below the closing price of the previous session. Following the auction on Friday (September 18, 2020. - chernayakobra.ru) these contracts fell by $ 0.15 (0.4%) to $ 43.15 per barrel, - reported to Interfax.
During the period from September 14 to 20, 2020, the price of Brent oil increased by 8.3%, and WTI oil - by 10.1%.
As chernayakobra.ru wrote earlier, the head of the RF Ministry of Energy Alexander Novak said that oil futures would no longer turn negative. In his opinion, such overstocking of storage facilities, which was observed in the spring, is now impossible. Alexander Novak added that not only OPEC + countries cut production, but also other non-OPEC countries.