2024-03-01 23:48:53
The growth of oil prices accelerated on Friday afternoon.
As Day.Az reports with reference to Interfax, May Brent futures rose in price on the London ICE Futures exchange by $1.02 (1.25%) to $82.93 per barrel.
By this time, April futures for WTI had risen in price on the NYMEX exchange by $0.99 (1.27%), to $79.25 per barrel.
In February, the price of Brent increased by 2.3%, WTI – by 3.2%. Both brands finished in the black for the second month in a row.
“The oil market is recording moderate gains on reports of a new round of tensions in the Gaza Strip, which increases risks in the region,” ING analysts wrote. “Spreads between various contracts for Brent and WTI remain narrow, signaling a supply shortage.”
The market is also awaiting OPEC+’s decision on extending restrictions on oil production and is closely monitoring oil production volumes in other countries, including the United States. In the United States, production has been at a record level of about 13.3 million barrels per day since the end of January, but production growth has stopped.
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