Oil fell below $ 100 on Tuesday, slipping to its lowest level since the first days of the Russian invasion of Ukraine, with prices entering the bear market as they now record total losses of more than 20% from their recent all-time highs.
In particular, the crude for April delivery lost $ 6.57 or 6.4% and closed at $ 96.44 a barrel. This is the lowest closure since February 28, the fourth day of the Russian invasion of Ukraine.
Brent crude for May delivery fell $ 6.99, or 6.5%, to $ 99.91 a barrel – the lowest level since February 25.
Both contracts entered the bear market as they now lose more than 20% since closing on March 8, which was the highest since 2008.
Source: Capital
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