Oil markets began the 2020s by nosediving below $0 a barrel for the first time. Investors and analysts are now trying to work out what the rest of the decade holds in store, headtopics.com reports.
As reported, the crude markets began the 2020s by nosediving below $0 a barrel for the first time. Investors and analysts are now trying to work out what the rest of the decade holds in store.
On July 9, 2020 5:30 AM, ETOil markets began the 2020s by nosediving below $0 a barrel for the first time.
Foreign media say that investors and analysts are now trying to work out what the rest of the decade holds in store.
Some think the bust will set in motion a boom, predicting that investment in oil-and-gas production will dry up and propel crude prices back above $100 a barrel.
As a reminder, as of the trade results of July 9, the oil price dropped at the world-leading London and New York exchanges.
On the Intercontinental Exchange Futures Europe (ICE Futures Europe), Brent oil price equaled 42.35 ( - 0,94) USD per barrel.
The Light Sweet oil price equaled 39,62 (- 1,28) USD per barrel in New York, at York Mercantile Exchange.
The Azerbaijani oil price also dropped. At the world market, the LT CIF price declined by 0.53 USD (-1.2%) per barrel.
The Azerbaijani oil price equals 43.62 USD per barrel currently.
Bela Gelashvili
News Author