The price of Brent crude oil exceeded $70 for the first time in 2014

Цена нефти Brent превысила $70 впервые с 2014 года

Oil production

Futures price for WTI crude oil rose to of 64.59 per barrel.

The price of Brent crude oil, according to trading, for the first time since December 2014 has exceeded $ 70 per barrel.

As at 18.26 in Kiev the cost of the March futures for Brent crude on London’s ICE Futures exchange rose 1.2% and reached 70.03 dollars per barrel.

The price of February futures for WTI blend increased 1.60% to of 64.59 per barrel.

Experts believe that the rise in oil prices 11 Jan caused by optimism about a steady reduction of oil reserves in the USA, and also the data about unexpected falling of oil production in the United States at the end of last week.

On the eve of the US Department of energy reported that commercial stocks of raw material last week fell by 4.9 million barrels, or 1.2% to 419,5 million barrels.

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We will remind, on January, 10th the price of oil was at its highest level in three years because data on the reduction of fuel reserves in the United States.

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