Moscow. On 25 January. Oil prices proceeded to decline after growth on Monday morning.
The price of the March contract for Brent crude on London’s ICE Futures exchange around 10:30 MSK fell by 0.5% to us $32 per barrel.
Hedge funds closed in the last days of the sell positions, which suggests that many felt that the market has passed the bottom point of the fall, writes Bloomberg.
Against the background of statements of the European Central Bank’s readiness to expand stimulus measures last week prices rose more than 10%, Bouncing back from $27 per barrel. However, this rebound, many believe, likely to be short term, as the market remains in oversupply.