During yesterday’s auctions oil price went down at the world goods market. During the session at the London-based Intercontinental Future Deals Exchange price of Brent oil mixture in May dropped by $1.97 to $106.24 per barrel. The volume of auctions was 20% below the average during the past 100 days.
At the NYMEX, the contracts for delivery of Texas light oil (WTI) in April dropped by $0.81 and oil price reached $98.08 per barrel. The turnover is 13% above the average during 100 days.
Oil prices went down on the both sides of the Atlantic Ocean, because of the market speculations that introductions of sanctions by the US and EU against Russia will not negatively affect the energy carriers deliveries.
“The sanctions were not impressive,” said Bob Yoger, Futures Director of Mizuho Securities USA Inc in New York. “They were not as strict as they could have been. It looks like that business will be done with a certain part of Russian businessmen, especially in the energy field.”
