Oil prices plunge, down around seven percent for the week
Oil prices are plunging on global markets today and are heading for a roughly seven-percent loss for the week. North Sea Brent crude was down 1.61 percent at USD 61.13 per barrel at around 18:00 CEST. At the same time, US light crude WTI was down 1.9 percent at USD 58.12 per barrel.
Traders are adjusting their positions today ahead of a meeting of the OPEC+ group, made up of members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies, including Russia, Reuters reported. At the same time, they were cautious about the possibility of easing tensions in the trade dispute between China and the United States.
Prices briefly pared their losses after data from the US Department of Labor’s Bureau of Labor Statistics showed that the economy created more jobs in April than expected. The unemployment rate remained at 4.2 percent.
Oil prices in dollars per barrel (about 159 liters):
| EXCHANGE | TYPE | CONTRACT | CURRENT PRICE | PREVIOUS CLOSE |
| London - ICE | Brent | June | 61,13 | 62,13 |
| New York - NYMEX | WTI | June | 58,12 | 59,24 |
Translation disclaimer
This article is a machine translation of the Czech original and has not yet been fully reviewed. In case of any doubt, please refer to the Czech version.
