After registering completely volatile weeks, Crude oil is trading stable and with little change compared to yesterday, Thursday, May 19.
black gold prices stabilize as planned ban on Russian crude offsets investor concern in the face of weakening economic growth.
“If US growth data remains negative, oil prices could be caught in the stock market’s negative feedback loop”said the managing director of SPI Asset ManagementStephen Innes, in a note to clients, according to information collected by Television newscasts.
The European Union is expected to continue negotiating to to be able to vote unanimously and ban imports of Russian oil. Such a ban would include exceptions for the most fuel-dependent countries, such as Hungary, which has refused to vote in favor of a lockdown.
“The odds of an EU embargo being declared sooner rather than later have risen following Germany’s success in reducing imports of Russian oil to more than half in a very short period.”said the consultant BCA Research in a note collected by the aforementioned medium.
Price of the dollar today, May 20: Exchange rate in Honduras, Mexico, Guatemala, Nicaragua…
Prices of a barrel of Brent and Texas oil today, May 20: how much does it cost and how much is it quoted?
In accordance with Oil Price Chartsrecognized website with more than 150 oil indices and mixtures worldwide, for this Friday, May 20, at 1:10 pm ET, the price of Brent is at $111.82 per barrel, while West Texas Intermediate (WTI) US crude oil is at $112.64 per barrel.
Prices during the day yesterday, at approximately the same time, were $111.90 per barrel for Brent and $112.11 per barrel for WTI.