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Oil: WTI and Brent drop 4%

19/03/2021
Categories: Index/Markets

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Oil prices fell sharply on Thursday at the turn of the US opening. WTI and Brent lose up to 4% of their value.

Never this year have Brent and WTI experienced such losses at the close.
Around 3:05 p.m. GMT (4:05 p.m. in Paris), a barrel of Brent from the North Sea for delivery in May was worth 65.34 dollars in London, down a sharp 3.91% from Wednesday's close.

In New York, the American barrel of WTI for April dropped 4.10%, to 61.95 dollars, while it was trading at more than 65 dollars the day before.
The two benchmark contracts accentuated their losses on Thursday, dropping up to 4.5% during the session.
Rystad's Louise Dickson says the negative sentiment was sparked by doubts in Europe over the AstraZeneca vaccine and crystallized after US stocks rose.

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