Business

Oil price falls below $50 per barrel

16:29, 21 December 2020
Oil price falls below $50 per barrel Photo: Sergey Lantyukhov/NEWS.ru

The price of North Sea Brent crude oil fell below $50 a barrel during trading on the London ICE stock exchange, NEWS.ru reports.


This happened for the first time since December 15.

As of 13:15 Moscow time, the price of the February futures for Brent oil fell by 5.61 percent to $49.35 per barrel.

The price of WTI oil fell 4.89 percent to $46.48 per barrel.

The euro exchange rate on December 21, during trading on the Moscow Exchange, rose above 91 rubles. Such a surge in the European currency value has been observed for the first time since December 3. Besides, the US dollar rate rose above 75 rubles.

The World Bank (WB) predicts an increase in oil price in 2021 to $44 per barrel compared to the forecast price of 2020, equal to $41 per barrel, experts of the financial organization said earlier.