Oil prices continue to increase

Oil quotes are rising on Tuesday morning. At 08:07 Moscow time, a Brent oil barrel was trading at $87.28, up 0.93% from its price at the close of the prior commercial day. Previously, the price of this standard exceeded the standard of $87 per barrel only in October 2014. WTI oil barrel rose to $84.34, or 1.25%. Market participants evaluate the dynamics of supply and demand in the global market. Experts remark that the influence of the spread of the omicron coronavirus strain on-demand was not as substantial as formerly thought. The market remains in deficit. Tensions in the oil market increased somewhat after it became known about the explosions of fuel tanks in Abu Dhabi. Investors are waiting for the publication of the OPEC report. It will assess the current circumstances in the oil market, as well as a prognosis for changes in demand for raw materials in the close prospect.


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Arseny Kudrin

Publicist, trader

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