Brent and WTI fell below $32 a barrel


Moscow. January 11. Prices on benchmark oil brands Brent and WTI on Monday fell below $32 a barrel for the first time since the beginning of 2004 and late 2003, respectively, reports Bloomberg.

The cost of the February futures for Brent oil to 19:10 Moscow time has fallen on London’s ICE Futures exchange to $31,93 per barrel – its lowest intraday level since spring 2004.

Quotation of the contract for WTI crude oil for February delivery on the new York Mercantile exchange (NYMEX) dropped by this time to $31,75 per barrel. These lower values of WTI was last reached in December 2003.

The main negative factor for the oil market on Monday was another crash in the stock market of China, the second largest consumer of fuel in the world.