Brent Oil Price Rose to 43.14 Dollars after Falling to three-Week Minimum
OREANDA-NEWS. Prices for benchmark crude oil rose on July 31, recovering from falling to three-week lows in the previous session amid hopes for new stimulus measures in the USA after the release of data on record decline in American gross domestic product.
The cost of September futures for Brent oil on the London Intercontinental Stock Exchange by 6:20 UTC is 43.14 US dollars per barrel, which is 0.2 dollars (0.47 %) higher than the price at the close of the previous session.
Futures for WTI crude oil in electronic trading on the New York Mercantile Exchange by this time increased in price by 0.17 dollars (0.43 %), up to 40.09 dollars per barrel. By the close of previous trading, the value of these contracts fell by 1.35 dollars (3.3 %), to 39.92 dollars. According to Dow Jones Market Data, quotes dropped below 40 dollars for the first time, ending the session at their lowest level since July 9.