Oil falls again after latest price collapse

On Monday (27), a week after the turbulence in the oil prices, the commodity has again recorded sharp falls in its Quotes.

Around 9:00 a.m. PDT, the price of the barrel of wti type fell 16.77%, with a value of U$ 14.10. In turn, the price of Brent barrel, a reference for Petrobras and the business in Brazil, was trading at $20, down 4.15%.

Remembering that because of the current economic crisis caused by pandemic of the new coronavirus, demand for the product has stagnated, generating so an excess of stock and lack of storage locations. On account in the last week, the oil business collapsed: the barrel wti type was sold for negative $37, and whoever bought it knew that was paying not to receive.

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