The price of Brent crude oil dropped below $62 per barrel for the first time since April 2021

The price of June Brent crude futures dropped below $62 per barrel on the London ICE exchange for the first time since April 7, 2021. This is evidenced by the bidding data.

Thus, by 22:17 Moscow time, the price of Brent decreased by 4.01% or to $ 61.78 per barrel. At the same time, by 22:22 Moscow time, Brent is trading at $61.94 per barrel (-3.76%).

In addition, futures for WTI crude oil are getting cheaper by 4.84% or up to $58.57 per barrel.

What is the strength of Brent: oil prices will "storm" for another month

This may lead to an increase in demand for Russian raw materials and a reduction in discounts on them.

Olga Veretennikova, vice president of the Borsell analytical company, told Izvestia on April 4 that the sharp drop in oil prices was due to tariffs imposed by US President Donald Trump, as well as retaliatory measures from China.

Evgeny Shatov, a partner at Capital Lab, suggested on February 24 that the Brent price would fluctuate between $70-80 per barrel in the spring.