MOSCOW (Sputnik) – On Tuesday, the price of May futures for WTI fell into negative territory again on the New York Mercantile Exchange (NYMEX), trading data showed.
As of 10:16 a.m Moscow time (06:16 GMT), the price of WTI crude May futures reached negative $4.04 per barrel. The price of June futures increased by 0.34 percent to $20.5 per barrel. Tuesday is the last trading day for WTI May futures trading on NYMEX.
The price of June futures for Brent saw a 7.39 percent drop to $23.64 per barrel.
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016
Oil markets have experienced serious turmoil in recent months, first when oil-producing countries failed to reach an agreement on output cuts and later when severe quarantine measures and decline in the industry across the world resulted in historically low demand for the product.
Sourse: sputniknews.com
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