The June futures cost for WTI crude fell $0.6 a barrel, according to the New York Mercantile Exchange at 8:30 a.m. Moscow time on May 1.
The June futures cost for West Texas Intermediate crude during Asian trading on the NYMEX exchange was $76.1 a barrel, which is 0.8% lower than the previous trading day’s closing level. The previous trading day, the West Texas oil futures price rose 2.7% and the previous day 0.6%.
The cost of Brent crude oil futures for June delivery on the ICE London Stock Exchange was $79.8 a barrel, 0.8% below previous trading level.
The fall in oil prices occurs in the context of a more restrictive monetary policy by the world’s central banks. In addition, stock speculators are reacting to the drop in Chinese industry economic reports in April.
Source: Rossa Primavera
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