By 8:15 a.m. Kyiv time, September Brent futures rose in price on the London ICE Futures exchange by $0.05 (0.12%), to $43.46 per barrel. On Monday, the contract rose by $0.07 (0.2%) to $43.41 per barrel, Interfax reports.
By this time, September futures for WTI were cheaper on the New York Mercantile Exchange NYMEX by $0.08 (0.19%) to $41.52 per barrel. During the previous session, WTI gained $0.31 (0.8%) to $41.6 per barrel.
Meanwhile, OPEC+ will begin to gradually increase production from August, which causes concern in the market, given that in a number of countries – from China to Spain and Germany – an increase in the incidence of coronavirus infection is recorded, MarketWatch writes.
In addition, according to Vortexa, the volume of oil currently in floating storage is 244% higher than a year earlier, indicating that there are still surplus stocks.
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