08.04.2025, 23:02
The price of Brent crude oil dropped below $62 per barrel for the first time since 2021
Source: OREANDA-NEWS
OREANDA-NEWS Global oil prices continue to update four-year lows, falling below $ 62, according to trading data.
As of 22:17 Moscow time, the price of June Brent futures decreased by 3.41% to 62.02 dollars per barrel. Minutes earlier, this figure had dropped below $62 for the first time since April 7, 2021.
The situation is significantly influenced by concerns about the American economy. On April 2, President Donald Trump signed a decree imposing reciprocal duties on imports from other countries. The basic minimum rate will be ten percent. But almost every country will face increased rates — they were calculated based on the indicators of the US trade deficit with a specific state in order to achieve a balance.
This led to a serious drop in stock markets both in the United States and around the world.
Another factor was the decision of the eight OPEC+ countries. Last week, Russia, Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman agreed to accelerate production: starting in May, they will produce 411,000 barrels per day more, although such an increase was previously planned for three months.
As of 22:17 Moscow time, the price of June Brent futures decreased by 3.41% to 62.02 dollars per barrel. Minutes earlier, this figure had dropped below $62 for the first time since April 7, 2021.
The situation is significantly influenced by concerns about the American economy. On April 2, President Donald Trump signed a decree imposing reciprocal duties on imports from other countries. The basic minimum rate will be ten percent. But almost every country will face increased rates — they were calculated based on the indicators of the US trade deficit with a specific state in order to achieve a balance.
This led to a serious drop in stock markets both in the United States and around the world.
Another factor was the decision of the eight OPEC+ countries. Last week, Russia, Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman agreed to accelerate production: starting in May, they will produce 411,000 barrels per day more, although such an increase was previously planned for three months.
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