Oil rises in price data from the US Energy Department

On Thursday morning, oil quotes are showing steady growth. By 7:58 Moscow time, the cost of a barrel of Brent Crude rose to $74 42 cents or 0.72%. The price of a barrel of WTI oil rose even more significantly. This oil benchmark rose to $71 56 cents or 0.97%. The previous evening, the data of the American Energy Ministry was published on the oil reserve dynamics. Over the past week, they fell by 4 million, 600 thousand barrels. Analysts deem that raw materials stocks in the United States will be reduced by only 2 million, 100 thousand barrels. A abatement in the reserve’s volume of this raw material in the country has been observed for three weeks in a row. At the same time, analysts deem that a more significant boost in oil prices will be hampered by fears associated with an increase in the number of ailment with a new coronavirus strain. As it became known, in some countries restrictions on movement have already been introduced due to the omicron speedy range.


About author

Arseny Kudrin

Publicist, trader

Read previous post
← JPMorgan raised prediction for China's GDP growth
Read next post
Japan's exports rose 20.5% in November →
Get the best solution for your forex company. Please, submit the form below and we will get back to you within 24 – 48 hours.