Prices for Brent crude fell below 53 $/barrel
In the second half of the trading day on 8 March 2017 on the stock exchange in London, Brent oil futures have rapidly gone down, setting two records at once.
the Session began with an trading level 55.62 $/barrel, but in a few hours the price has lost more than 5%, and the auction ended at a historic low 52,94 $/barrel, which was the largest single day decline this year.
the Last time this price level for Brent crude oil was recorded at the beginning of December last year.
As of 21:47 may futures for Brent on the stock exchange in London traded at 53,02 $/barrel. On this day the price of oil fell by 5.19%, setting a record drop in 2017.
WTI crude oil Price on the stock exchange in new York also fell by 5.25% to a level that corresponds to the middle of December last year. As at 22:00 the price of a barrel of WTI made from 50.36 $/barrel.
the Fall in oil prices will lead to a reduction in the prices of energy crops, such as soybean, corn and vegetable oil.