The cost of the August Brent oil futures during today’s trading reached $ 76 per barrel for the first time since October 2018, follows from the data of the ICE exchange.
After reaching the maximum, its price dropped slightly. By 18:45 Moscow time, it was selling at $ 75.61 per barrel. At the close of yesterday’s trading, the futures cost $ 74.81, and at the opening of today’s trading – $ 75.03 per barrel.
August futures for WTI crude oil by 18:45 Moscow time cost $ 73.59 per barrel. At the same time, during today’s trading, its price reached $ 74.23 per barrel. This is also the maximum since October 2018. At the close of yesterday’s trading, the futures cost $ 72.85 per barrel, and at the opening of today’s trading – $ 72.94.
Reuters clarifies that oil quotes are rising amid reports from the US Energy Information Administration about a sharp decline in oil reserves. Thus, their volume decreased by 7.6 million barrels in the week from June 18 – to 459.1 million barrels, which is the lowest level since March 2020. demand and economic recovery, analysts explained.
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