• Oil prices on the rise

Market news

14 July 2016

Oil prices on the rise

This morning, New York crude oil futures WTI rose by 1.52% to $ 45.43 per barrel. At the same time, crude oil futures for Brent rose by + 1.32% to $ 46.87 per barrel. Thus, the black gold is gaining on the background of excess oil on the world markets, strong demand and a significant reduction of oil production by countries outside OPEC. The reserves of black gold in the United States fell last week, but not as much as analysts had expected. EIA reported that crude oil inventories fell by 2.5 million barrels last week while analysts had expected a reduction of almost 3 million barrels.

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