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In Money Matters

Oil below $60 again

6th June 2019

Oil below $60 again Pin It

Oil prices fell sharply on Wednesday, following new figures on US oil stocks. For a barrel of Brent, the benchmark for oil from Europe, Africa and the Middle East, the market paid less than $ 60 for the first time since January.

In the United States, stocks of crude oil and products such as gasoline, fuel oil and diesel increased by millions of barrels last week. That puts pressure on prices in the market. A barrel of American oil (of around 159 liters) cost around 5 percent less at the beginning of the evening at $ 51.05. Brent oil was at the same time just under 4 percent cheaper at $ 59.74 a barrel.

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