OREANDA-NEWS.The price of futures for Brent crude oil for delivery in May 2020 is growing at 7.22% to $ 35.85 per barrel, according to trading data on the ICE exchange in London at 03:30 Moscow time.

As of 03:12 Moscow time, the price was $ 35.64 (plus 6%). At the same time, the cost of WTI crude oil reached $ 32.38 per barrel (plus 4.02%). On Monday, the cost of futures for Brent crude oil for delivery in May 2020 during trading on the ICE exchange in London in peak fell to $ 31.02 per barrel. The cost of the April WTI oil futures was trading at $ 27.59 a barrel.

Oil is falling amid news that OPEC+ countries, following the results of negotiations in Vienna, could not agree on an additional reduction in oil production amid falling demand due to coronavirus. OPEC proposed to further reduce production by 1.5 million barrels per day until the end of 2020. However, Russia and Kazakhstan opposed this proposal.