Brent updated at least from July 2004 – RBC

Photo: Global Look Press

Brent crude on London’s ICE updated at least from July 2004, dropping below $ 36.2 per barrel. As of 7:57 MSK February futures price was $ 36.18 per barrel.

But then Brent played a little fall – as of 8:17 MSK it was trading at $ 36.22 per barrel.

Such a low price for a barrel of Brent crude during the day for the last time was recorded July 13, 2004, when a barrel traded at $ 36 88.

According to Bloomberg, the reason for the fall in prices was the expectation of suppliers from the Middle East against the background of the US decision to enter the market, which could aggravate the situation with excess oil.

Last week, December 19, US President Barack Obama signed the draft budget for 2016, providing for the abolition of the ban on the export of American oil, which operated for the past 40 years. However, experts told a RBC noted that by itself this decision is unlikely to significantly affect the price of oil.

It is also the cause of the acceleration of falling oil prices was the decision of the summit of OPEC on December 4, about that the OPEC countries may continue to prey on the actually prevailing in the previous months level, ie in the amount of approximately 31.5 million barrels of oil.