The value of Brent crude futures for June 2020 delivery on the London Stock Exchange fell 5.15% to $ 18.96 a barrel, according to trading data at 2.29 GMT on Tuesday morning.
However, as of 02:40 GMT, the price of “Brent” crude has returned to recovery in part, and rose to 19.15 dollars a barrel.
In contrast, US crude futures for June fell by 15.02% and were trading at $ 10.86 a barrel.
The drop in oil prices began since the beginning of this week, as the value of June contracts for the supply of Brent crude fell to less than $ 20 a barrel, and WTI crude items fell to less than $ 14.5.
“Brent” contracts fell during the trading last Tuesday, more than 30%, as the price of a barrel reached 17.51 dollars, at the lowest level since November 2001.
Last Friday, Russian crude, “Urals”, traded at a price higher than the global benchmark price, “Brent”, for the first time since November 2019.
According to the data, Russian crude rose in the Western European markets at the end of last week by $ 1.05, bringing the price of a barrel of “Eurals” to deliver the port of Rotterdam to $ 16.39 a barrel, which is higher than the level at which the Brent mix was traded on that day by about 0.2 Dollars, for the first time since November 21, 2019.