Oil falls on eve of embargo against Russia

The price of Brent oil futures on the ICE London Exchange for the first time since the end of September fell below $ 90 per barrel, amounting to $ 87.62, American oil WTI broke out $ 80.

Foreign media notes that since the beginning of the week, oil quotes have fallen by more than 10%, despite the fact that from December 5, the European Union will refuse the marine supplies of Black Gold from Russia, and the G7 countries will introduce price ceiling to Russian oil.

Experts explain the collapse of the cost of oil by the fall in demand from China, which, being the largest importer of raw materials in the world, is experiencing another wave of Pandemia of Coronavirus. Analysts also note the weakening of geopolitical tension, which makes a further decrease in fuel cost.