• Oil is trading higher

Market news

6 September 2016

Oil is trading higher

This morning in New York WTI crude oil futures increased by 1.67% to $ 45.19 and Brent oil futures were at $ 47.62 per barrel. Thus, the black gold is gaining on the background of the agreement between Russia and Saudi Arabia on possible joint action to stabilize the market. At the same time, Iran continues to ramp up production to return to desired levels of exports. In October, Russia and Saudi Arabia will hold the first meeting in the in the field of oil and gas. Also, a ministerial meeting is scheduled in Algiers in November.

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