Oil Prices Fall 9-10%, Brent Crude Down to $31.69, WTI Price Drops to $25.96
The price of Brent crude oil fell by more than 9 percent, while WTI crude oil lost more than 10 percent, early Monday market data shows.
The price of Brent crude oil fell by more than 9 percent, while WTI crude oil lost more than 10 percent, early Monday market data shows.
As of 01.19 a.m. Moscow time on Monday (22:19 GMT), the price of June futures for Brent crude oil fell by 9.02 percent to $31.69 per barrel.
The price of May futures for WTI crude fell by 10.39 percent to $25.96 per barrel.
Global oil prices suffered a major decline after the coronavirus pandemic and the measures taken to combat it halted major parts of countries' economies around the world, thus severely reducing demand for the natural resource.
The price tag for a barrel slipped even lower, reaching levels previously seen back in 2002, after members of the OPEC+ deal failed to negotiate an extension to the production cuts. Restrictions were lifted as the deal expired at the end of March, leading to a collapse in the market.
Source: sputniknews.com
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Kazakhstan to boost annual gas transit through Uzbekistan to 8.4bln m³
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As it was reported, QazaqGaz and Uztransgaz signed a contract for gas transit through Uzbekistan.
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“This is the transit of Russian gas. Overall, we are considering the issue of increasing transit volumes to 8.4 billion cubic meters per year,” he said.
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Kazakhstan ready to supply goods worth at least $200mn to Iran
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During the extended talks in Akorda, Kassym-Jomart Tokayev and Masoud Pezeshkian, discussed the prospects for expanding cooperation between the two countries in trade, economic, and investment spheres, Qazinform News Agency reports.
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Kazakhstan-Iran trade rises by 40%
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Head of State Kassym-Jomart and President of Iran Masoud Pezeshkian held a narrow-format meeting in the Akorda Palace, Qazinform News Agency reports.
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