Brent oil price hits 4-year low

ISTANBUL

The price of Brent oil hit a four-year low level on Wednesday, falling below $60 per barrel.

The price of Brent oil was at around $75 level at the beginning of April.

Amid tension related to the US tariff decisions, the oil prices lost in value sharply.

The price of Brent oil lost around 2.3% day-on-day on Wednesday, and dropped by around 20% from the beginning of April.

Brent oil prices saw around $20 level during the COVID-19 pandemic when production activities stopped around the globe.

Texas crude oil (WTI) prices also lost around 5% to $57 on Wednesday.