Brent Futures Dip to 18-Year Low

Brent oil futures with delivery in June 2020 dropped by 12.72% to US$21.76 a barrel on the London-based ICE on Monday, Russian news agency Tass reported. The last time Brent oil futures were below the level of US$22 a barrel in March 2002.

WTI futures prices fell 6.56% to US$20.1 per barrel. The Russian currency is weakening against the US dollar and the euro on the back of plummeting oil prices. The dollar at the same time rose by 1.3% to 79.85 roubles on the Moscow Exchange. The euro rose by 0.43% to 88.11 roubles.