Oil prices have grown

Цены на нефть подросли

Brent on London exchange ICE Futures rose in price to $78,14 per barrel

Oil rises on forecast of the American petroleum Institute about the sharp reduction of commodity stocks of fuel in the United States.

Oil prices reference marks are rising in the Asian session on Wednesday, July 4, using data from the American petroleum Institute (API) on a sharp reduction of inventories of fuel in the United States. In addition, continued disruptions in oil supplies from Libya and Canada. However, the growth of oil production in Saudi Arabia and Russia, as well as (to a lesser extent) in the U.S. limits the rise.

So, the price of September futures for Brent crude on London’s ICE Futures exchange rose 38 cents (0.49 percent) to $78,14 per barrel. The August contract on oil WTI in electronic trading on the new York Mercantile exchange (NYMEX) climbed 49 cents (0,66%) to $74,63 for barrel.

According to the API, oil stocks in the US fell by 4.5 million barrels, while analysts had expected a more modest drop to 3,267 million barrels. The official data of the U.S. Department of energy will be released a day later, at 18.00 Kyiv time on Thursday, July 5, in connection with the weekend due to independence Day in the country.

Earlier it became known that the United States would impose an embargo on Iranian oil from 4 November. The Americans are going to isolate the cash flows of Iran. Also, the U.S. is ready to impose sanctions after a specified date against international companies, if they will Fund the Iranian regime.


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