Oil prices are increasing again

Oil quotations are going up on Friday morning. Brent could end the week with an increase of 2.5%, WTI – 3.5%, Interfax reports.

The cost of Brent December futures at the London ICE Futures exchange by 8:10 am Kyiv time on Thursday amounted to $84.64 per barrel, which is $0.64 (0.76%) higher than the price at the close of the previous session. As a result of trading on Wednesday, these contracts rose by $0.82 (1%) up to $84 per barrel.

The price of WTI November futures at the New York Mercantile Exchange (NYMEX) reached $81.88 per barrel by this time, which is $0.57 (0.7%) higher than the final value of the previous session. The day before, the cost of these contracts rose by 0.87 (1.1%) up to $81.33 per barrel.

The pressure on the market is exerted by the data of the US Department of Energy on changes in oil stocks, which increased by 6.09 million barrels to 426.98 million barrels. Analysts expected a much smaller increase – by 900 thousand barrels.

Tags: oil, OPEC+, OPEC, price, Brent, WTI, oil reserves

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