Oil prices dropped sharply

19.08.2021

The price of Brent crude oil fell to $66.87 per barrel by 10:40 am Moscow time on August 19, according to trade data. The price fell 1.9 percent and in the course of trading fell even below this level.

Such values became a record in almost three months: the last time oil cost less than $67 on May 24. WTI is trading at $63.93 a barrel (minus 2.3 percent).

Oil prices have been falling for several days against the background of outbreaks of coronavirus worldwide, which have led to fears of further weakening in demand. The dollar is also under pressure.