Business The price of Brent oil loses almost 5% and...

The price of Brent oil loses almost 5% and that of WTI falls more than 6%

The previous day, the futures for July of these international benchmark crude brands reached their maximum since March 10.

The price of oil, which has been on the rise since the beginning of this week, has returned to its downtrend this May 22, according to data from the Chicago Mercantile Exchange (CME, for its acronym in English).

Thus, the futures price for July of the European crude oil of international reference Brent, which the previous day exceeded 36 dollars per barrel, at the time of the opening of the session it was located at 35.94 dollars and then it has dropped to $ 33.55, which represents a loss of almost 5%.

For its part, the futures price for July of US WTI crude It is also losing points, and so far this day it has fallen more than 6%.

At the time of the opening of the session it has been placed at $ 33.95 and then it has dropped to $ 30.72 per barrel.

Both the price of WTI and Brent crude oil on May 21 registered a significant increase, marking the highest levels since last March 10. However, oil in general is going through difficult times due to the global demand crisis caused by the covid-19 pandemic.

Thus, this April 20, the futures for May of the US oil WTI plummeted more than 305% in a day, to its historical minimum of -37.63 dollars.

This April 22, Brent oil futures for June delivery plummeted below $ 16 a barrel for the first time since December 1999. Thus, the crude of this brand fell a 17.33% until the $ 15.98 per barrel.

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