The Mexican mixture closed this Wednesday at a price of 105.97 dollars per barrel.
This represented a drop of 11.41 percent, which was its most significant drop since June 2020.
Edward Moya, a senior analyst at Oanda, noted that international oil prices fell after Ukraine’s President Volodymyr Zelensky said his interest in joining NATO had “cooled off.”
On the other hand, optimism is growing that the economic sanctions are ‘taking their toll’ on the Russian economy and therefore, Russian President Vladimir Putin would avoid prolonging the war.
Mexican crude was not the only one with collapses: West Texas Intermediate (WTI) fell 10.74 percent to sell at 110.4 dollars per barrel, its largest negative variation since November 2021, while Brent decreased 12.7 percent to trade at 112.85 dollars per barrel, its biggest drop since April 2020.