Oil fell more than 6% in a day

Oil prices fell more than 6% on Monday evening amid increasing investor skepticism about the state of the global economy.

Read more . WTI crude fell to $42.68 a barrel for the first time since June 2017. Brent crude fell to $50.47 a barrel for the first time since August 2017. Since the beginning of October, oil has lost almost 40% of its value.

• Quote . "What's going on in the stock market is fearing a complete shutdown of the economy, and it will kill any demand for oil," said Phil Flynn, an analyst at Price Futures Group in Chicago.

What's happening. Expectations of the coming slowdown in the global economy caused a trade war between the US and China. It was she who provoked the fall in the stock market.

• Investors also fear that the supply on the oil market in this situation will be excessive, and the agreement to reduce production by OPEC+ countries will be insufficient.
• The panic in the market was reinforced by the shutdown in the United States and rumors about the possible dismissal of the head of the Fed by Donald Trump. In a fresh tweet on Monday, the US president called the head of the Fed the only problem for the United States, after which the fall in American markets intensified .

The new collapse in the oil market had little effect on the ruble exchange rate - it remained practically unchanged at the end of the day. In favor of the Russian currency is the tax period, the peak of which falls on December 26th.

Vladimir Motorin