The key facts
- On November 9, Brent futures on ICE fell below $93 per barrel — for the first time since September 1
- By 5:21 p.m. Moscow time the decline reached 5.61% (to $92.8); by 5:34 p.m. Moscow time the price returned to $93.93 (-4.47%)
- WTI was down 3.93% by 5:34 p.m. Moscow time, to $87.26 per barrel
Sharp drop in trading on November 9
World oil prices fell sharply in trading on November 9. According to the London ICE exchange, the price of futures for the North Sea Brent blend dropped below the $93 per barrel mark for the first time since September 1. By 5:21 p.m. Moscow time, January contracts had fallen 5.61% to $92.8 per barrel, but the decline soon slowed: by 5:34 p.m. Moscow time, Brent was already trading at $93.93 per barrel, corresponding to a 4.47% decrease. This is reported by Life.ru.
WTI falls in tandem with Brent
Alongside the European benchmark, American WTI crude was also losing ground: December futures were down 3.93% by 5:34 p.m. Moscow time, dropping to $87.26 per barrel.
November decline continues
Trading on November 9 continued the dynamics of the beginning of the month: as Life.ru reported earlier, on November 4 January Brent futures fell below $95 per barrel for the first time since early September, with the decline at that moment exceeding 8.5%. Thus, over several days the benchmark successively broke through first the $95 level and then $93 — while intraday fluctuations remain significant, as also seen on November 9, when the price, after falling below $93, partially recovered above that mark.
