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02.04.2018

Black gold is rising in price

Black gold is rising in price

Oil prices are rising in the course of trading on Monday amidst geopolitical tensions. In addition, there are signs that the OPEC + states are considering the possibility of steps to maintain oil prices, according to Dow Jones.

Positive impact on the market is also the news that the number of operating oil production facilities in the US declined last week by 7 pieces and amounted to 797, according to the oil service company Baker Hughes. This is the most significant drop in their number since November last year.

The price of the September contract for oil on the Shanghai International Energy Exchange (INE) fell by 1.3% on Monday to 414.8 yuan per barrel. As a result of trading on Friday, their quotes jumped by 2.6%.

June futures for Brent crude on the London stock exchange ICE Futures by 8:24 Moscow time went up by $ 0.33 (0.48%) - to $ 69.67 per barrel. Quotations of futures for oil WTI for May by this time increased by $ 0.21 (0.32%) - to $ 65.15 per barrel.

On Friday, the markets of most countries in Europe and the US were closed due to the Easter holidays.

Foto: © Reuters. Black gold is rising in price

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