Brent falls to $63.85 per barrel

Oil prices continued to decline on April 7 after falling on April 4 to the lowest levels since 2021 amid new steps by US President Donald Trump in foreign trade policy, as well as OPEC+ decisions, Report informs referring to Interfax.

On April 6, the Saudi state company Saudi Aramco reduced prices for all grades of oil for Asian buyers by $2.3 per barrel, the maximum since October 2022. Prices for the US will be reduced by $0.2 per barrel, for buyers from Northwestern Europe and the Mediterranean by $0.5 per barrel. By 9:20 Baku time, June Brent futures fell on the London ICE Futures exchange by $1.73 (2.64%) to $63.85 per barrel.

On April 4, Brent fell by $4.56 (6.5%), to $65.58 per barrel, the lowest since August 2021. May WTI futures at this time were cheaper on electronic trading of the New York Mercantile Exchange NYMEX by $1.62 (2.61%), to $60.37 per barrel. During the previous session, the contract fell by $4.96 (7.4%), to $61.99 per barrel, the lowest value since April 2021. Last week, Brent fell by 10.9%, and WTI by 10.6%.