Brent Oil Price Exceeded 41 Dollars per Barrel
OREANDA-NEWS. The price of futures for Brent crude oil for delivery in August 2020 on the Intercontinental Stock Exchange in London rose by 2.6 % to the closing level of the previous session and reached 41.02 US dollars per barrel. The last time when the price of Brent was above the level of 41 dollars per barrel was March 6, 2020. By 10:13 UTC, Brent crude oil grew even higher: to 41.18 dollars.
WTI crude oil was trading at 38.59 dollars per barrel, this figure is 2.3 % higher than it was during the previous trading session.Oil price is currently growing because of the news that on June 6 there will be ministerial meetings of OPEC countries, and then – of the oil producing countries outside the organization. A source of the information agency TASS said that the main issue on the agenda is the extension of the current level of production decline of 9.7 million barrels per day after June.