Under the results of the trade on February 22, 2020, the oil price has increased at the leading London and New York oil exchanges.
The Brent oil price reached 54,01 (+ 0,74) USD per barrel at the InterContinental Exchange Futures Europe in London, UK.
The Light Sweet oil price reached 49,94 (+ 0,37) USD per barrel at York Mercantile Exchange in New York, USA.
Oil prices decreased by 10% in January 2020 and continued depreciation until today.
Specialists say the Coronavirus outbreak caused the oil price to drop.
The demand for oil in China decreased by 20%.
Bela Gelashvili
News Author