oil prices remain volatile.
For the morning of this Monday, May 2, Brent and West Texas Intermediate (WTI) crude oil prices fell Concerned about low economic growth in China, the largest oil importer in the world.
At the moment, China is in lockdown due to a new outbreak of coronavirusso the offer has been limited. In addition to this, the European Union is contemplating Bans on Russian barrels, decision stemming from Putin’s offensive on Ukrainewhich began on February 24.
“A slowdown to that point, when China is already suffering from a real estate slump and concerns about its (until recently) increased regulation, it’s potentially a major issue for commodity markets and the world economy. Tobin Gorey, a commodity analyst at Commonwealth Bank, according to information collected by Infobae.
Prices of a barrel of Brent and Texas oil today, May 2: How much does it cost and how much is it quoted?
According to the most recent report of Oil Price Chartsrecognized website with more than 150 oil indices and mixtures worldwide, For the morning of this May 2, the West Texas Intermediate oil barrel is at $100.82 dollars, while the Brent crude oil barrel is at $100.82 dollars.
The cost of oil had a drop of just over three percentbecause the price of the same during the day of yesterday, approximately at the same time, It was $109.34 dollars for a barrel of Brent crude, while a barrel of WTI was $104.69 dollars.