for subscribers

Crude oil prices fall almost 20% since beginning of the year

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Singapore - Crude oil prices continued a relentless dive early on Tuesday, falling almost 20% since the beginning of the year as analysts scrambled to cut their 2016 oil price forecasts and traders bet on further price falls.

US crude West Texas Intermediate (WTI) was trading at $30.66 per barrel at 05:31 GMT on Tuesday, down 75 cents from the last settlement and about 20% lower than at the beginning of the year. Earlier it traded at $30.60, the lowest since December 2003.

Brent crude futures fell 83 cents to $30.72 a barrel. Earlier they declined to $30.66, their lowest since April 2004. Brent has fallen nearly 20% in January and, like WTI, has declined on every day of trading so far this year.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.59
(+0.35)
ZAR/GBP
23.01
(+0.20)
ZAR/EUR
20.76
(+0.25)
ZAR/AUD
12.61
(+0.23)
ZAR/JPY
0.17
(+0.25)
Gold
2029.09
(+0.09)
Silver
28.09
(-0.16)
Platinum
973.37
(+1.13)
Brent Crude
44.57
(0.00)
Palladium
2162.00
(-0.69)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 938 votes
It depends on how the funds are used.
74% - 6262 votes
No. We should have gotten the loan elsewhere.
15% - 1286 votes
Vote