The price of oil recovers after collapse

Цена на нефть восстанавливается после обвала

On the eve of the oil market has plummeted prices

Brent crude in London rose $0,67, and the price of WTI in new York increased by $0,71.

World oil prices reference marks are trying to regain the sharp drop that occurred yesterday. This according to the auction the morning of Wednesday, November 21.

So, the price of January futures for North sea Brent crude on London’s ICE Futures exchange at 8:50 in Kiev rose by $0,67 (of 1.07%) to $63,20 per barrel.

In turn, the price of oil WTI for January delivery in electronic trading on the new York Mercantile exchange (NYMEX) rose by $0,71 (1,33%) to $54,14 per barrel.

On the eve of the oil market experienced a sharp price fall. At the height of fall of the price of Brent and WTI fell almost 7% to $62,36 and $from 53.31 respectively.

As noted by Interfax, a negative factor for the oil market were the statements of US President Donald trump that Saudi Arabia “reacts” to his calls to keep oil prices low. Such statements have raised concerns that OPEC can’t help to agree on production cuts in 2019.

Note that the last week quotes of Brent and WTI one day fell by 7.1% and 6.6%, respectively. Was reached minimum values in March. Brent cost $65,19 per barrel and WTI – $55,34. Moreover, the rate of interest falling WTI in one day were the fastest for three years from September 2015.

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