Friday , June 25 2021

Oil prices are approaching $ 70 per barrel



Oil prices are approaching $ 70 per barrel

The price of "black gold" tends to the psychological threshold

London Brent crude fell $ 1.48, while WTI prices in New York fell $ 1.20.

World oil reference prices will continue to decline against the background of rapid growth in US stocks. This is evidenced by trade data on Thursday night, November 8.

Thus, January futures prices for Brent North Sea crude on the London Stock Exchange ICE Futures at 10:40 p.m. in Kiev fell $ 1.48 (2.05%) – up to $ 70.59 per barrel.

In turn, the cost of WTI crude oil for December delivery in electronic trading on the New York Mercantile Exchange (NYMEX) fell $ 1.20 (1.95%) to $ 60.47 per barrel.

Earlier it was reported that oil reserves in the United States rose last week for the seventh time in a row. This time it's 5.78 million barrels. At the same time, market analysts expect an increase in stock of no more than 1.9 million barrels.

It was also reported that the US Department of Energy raised its estimate of oil production in the country by 2019 from 11.8 million barrels per day to 12.1 million b / d. The ministry also reduced Brent oil prices in 2019 to $ 2 per barrel to $ 74 per barrel.

Remember, the United States for the first time in 45 years has become a world leader in oil production, beating Russia and Saudi Arabia.

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