West Texas Intermediate crude futures price again falls below zero

May futures price growth on Texas Intermediate crude oil on the New York Stock Exchange slowed, eventually returning to below zero per barrel.
According to the data, the price of futures contracts on Texas Intermediate crude oil on the New York Stock Exchange increased by 89.26 percent to -4.04 dollars a barrel. Today is the last day of May futures trading for this oil. Yesterday, the price of Texas crude oil collapsed by 300 percent to -37.63 dollars a barrel.

In a related context, Brent oil prices fell to less than $ 25 a barrel, for the first time since the beginning of April.

The price of Brent North Sea crude futures for the month of June until 9:45 Moscow time, $ 24.73 a barrel, a decrease of 3.29 percent.

Oil prices witnessed a significant decline as investors expected a decrease in the global demand for oil due to the Corona pandemic, and according to the International Energy Agency data, oil demand will decrease to reach a record rate of 9.3 million barrels per day.