Brent price goes up amid strong demand

On Thursday, oil prices are rising as stocks are shrinking in the market, indicating that demand for energy remains strong, Interfax reports.

Brent futures reached $74.43 per barrel. On Wednesday, Brent rose in price by $0.18 (0.2%) to $73.88 per barrel.

WTI by this time traded at the level of $71.55 per barrel. During the previous session, the contract rose by $0.14 (0.2%) to $70.87 per barrel.

"The market was setting a worst-case scenario for demand with the omicron," Daniel Hines, commodities analyst at Australia & New Zealand Banking Group, told Bloomberg. - Nevertheless, it cannot be said that the worst is over. Many risks remain. "

By 2050, oil production in Canada will be halved.

As reported, the United States earned millions on the confiscated Iranian oil.

Tags: oil, USA, oil production, coronavirus, price, petroleum products, Brent, WTI, oil reserves, economy, oil market

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