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Oil prices fell to 58 dollars per barrel

Oil prices fell to 58 dollars per barrel

Oil is cheaper against the backdrop of rising stock in the United States and on the eve of the G20 Summit

The cost of oil futures fell sharply from 10am, down more than a dollar.

World oil prices have declined in trade on Thursday, November 29, renewing last year's lows.

The January futures cost for Brent crude on the London Stock Exchange ICE Futures was $ 57.57 per barrel, which was $ 1.19 (2.03%) below the previous closing session level.

WTI crude oil futures for January on the New York Mercantile Exchange (NYMEX) were $ 49.56 per barrel, which was $ 0.73 (1.45%) lower than the previous session.

That night, oil futures fell more than 1.5% after the publication of Energy Information Administration data on growth in commercial oil reserves in the United States by 3.6 million barrels, with an estimated growth of 0.3 million barrels.

Traders are very optimistic on the eve of the G20 Summit, which will be held on November 30 – December 1 in the Argentine capital. Market participants hope that G-20 heads of state will be able to resolve contradictions that provoke a global economic slowdown.

It should be noted that yesterday's oil prices rose to $ 61 per barrel, after a sharp fall last week.

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