Oil prices opened yesterday with a sharp decline in New York, with the market worried about too much supply, especially the US.
The light sweet crude (WTI) price dropped $1.01 to $ 48.61 in contracts for June delivery on the New York Mercantile Exchange (Nymex).
And in the London market, which is not convinced that OPEC’s efforts can stop the increase in US production, Brent crude of the North Sea for delivery in June was worth $50.64, that is, with a drop of $1.18 compared to Wednesday.
In the New York Mercantile Exchange (Nymex) the barrel of “light sweet crude”, American reference, yielded 1.25 dollars and stood at $48.37.