Brent Crude Oil Price Exceeded 44 Dollars for the First Time since March 9
OREANDA-NEWS. The cost of the September futures contracts for Brent crude oil on the London Intercontinental Exchange rose by 1.85 %, to 43.99 US dollars per barrel as of 09:44 UTC. According to trading data, the maximum value during the session was 44.06 dollars. Thus, the level of 44 dollars was exceeded for the first time since March 9.
Futures for WTI crude oil for September delivery grew by 1.17 %, to 41.4 dollars per barrel.
Experts note that positive news about coronavirus vaccine trials and an agreement on new stimulating measures in the European Union have boosted investor sentiment. A more significant growth in quotations is hampered by fears of re-introduction of quarantine measures. Another factor supporting the market is the expectation of a new support package for the American economy. The volume of stimuli in the USA may be about 1–1.5 trillion dollars.