Brent crude price rises above $45 per barrel again

The cost of October Brent futures on the London ICE Futures exchange on August 11 was $45.2 per barrel, which is $0.21 (0.47%) higher than the price at the close of the previous session. As a result of trading on Monday, these contracts rose by $0.59 (1.3%), to $44.99 per barrel, Interfax reports.

Futures on WTI for September at the electronic trading of the New York Mercantile Exchange (NYMEX) by this time increased in price by $0.33 (0.79%), to $42.27 per barrel. The day before, the value of these contracts increased by $0.72 (1.8%) to $41.94 per barrel.

Benchmark oil prices continued to rise on Tuesday after Saudi Aramco chief Amin Nasser said that demand for gasoline and diesel in China was "almost back to levels" seen before the pandemic.

According to him, the demand is now about 90 million bpd. The head of Saudi Aramco predicts its growth to 95-96 million bpd by the end of the year.

Investors also continue to monitor the adoption of a new package of measures to support the US economy.

Earlier it was reported that Saudi Aramco's net profit fell 73% in the second quarter.

Tags: contracts, oil, hydrocarbon production, legislation, USA, energy market, jet fuel, Asia, oil production, coronavirus, foreign affairs, OPEC+, OPEC, price, agreement, volumes, petroleum products, gasoline, energy sector, quarantine, Brent, WTI, pandemic, Saudi Arabia, oil pipeline, COVID-19, decline in production, oil companies, oil reserves, crisis, economy, market, oil production

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