Oil started the week a sharp rise of prices

Нефть начала неделю резким ростом цен

Oil rises after sharp drop last week due to a conflict the United States and Saudi Arabia.

Oil prices rising on Monday, October 15, against the background of worsening relations between the U.S. and Saudi Arabia because of the extinct Saudi journalist Jamal Hackage.

The cost of December futures for Brent crude on London’s ICE Futures exchange is $81,44 per barrel, or $1,01 (1,26%) above the closing level of the previous session.

Futures price for WTI crude oil for November in electronic trading on the new York Mercantile exchange (NYMEX) increased by $0,78 (1,09%) to $72.12 per barrel.

As you know, the last time the missing journalist saw when he went to the Saudi Consulate in Istanbul. According to media reports, a man was killed there.

The US President Donald trump said he was willing to severely punish Saudi Arabia in the case of the establishment of her guilt in the murder Hackage

Meanwhile, Saudi authorities said they would not accept the threat of sanctions by foreign countries and promise to give the answer in the case of the application of such restrictive measures.

“The problem of the disappearance Hackage is one of the factors pushing up oil prices. However, the potential for price growth is limited to considering appeals of the United States to reduce oil prices”, – the analyst on the commodity sector Samsung Futures Inc. Kim Changrae in comments to Bloomberg.

Note, Brent crude fell by 4.4% at the end of last week, which was a significant drop from April, the cost of WTI fell by 4%. Falling prices of both contracts was the first in five weeks and is due, among other factors, with the total collapse of risky markets.

 

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