the Price of a barrel of Brent crude for the first time since the winter of 2016 fell below $ 30
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the Cost of may futures on Brent crude oil by 16:30 Moscow time fell to 29.52 per barrel. Last time at this level, the quotes were in January 2016 on some days, then they reached the level of $ 26.
the closing level of the previous trading price has fallen more than 12.5%. Almost 10%, below $ 29 per barrel, fell also the value of the American brand WTI. The April futures for oil WTI in electronic trading on the new York Mercantile exchange (NYMEX) amounted to 28.83 per barrel, reports “Interfax”.
the decline in the cost of oil continued to fall and the ruble exchange rate against the main world currencies: the US dollar is now trading at 75.2 per ruble (per day fell by 2.5 rubles) and the Euro – 83.6 ruble (fell by 2.9 ruble).
the Fall of oil prices is continuing because of the impending increase of extraction of raw materials from April, and also due to the increasing fears about a slowing global economy amid the pandemic coronavirus. Taken by the U.S. Federal reserve system and Central Banks of other countries emergency measures to stabilize markets after the fall of March 9, couldn’t, writes “Novaya Gazeta”.
For these reasons, shortly after the opening fell the major indexes on the stock exchange of new York: showing the capitalization of the largest companies in the S&P 500 index by 8%, and the status of the industrial sector, the Dow Jones index is almost 10%. Because of this, the third time in the last six sessions the auction was temporarily suspended for 15 minutes.