Date: a week ago   Category: Financial

Oil rises in price against the background of a situation in the Middle East


Oil rises in price, despite data on increase in stocks to the USA and forecasts of easing of global demand. The world prices for oil of reference brands continue to grow against the background of strengthening of tension in the Middle East. So, on Thursday, May 16, the cost of July futures for Brent oil at the London's ICE Futures Exchange is $72.14 for barrel that for $0.37 (0.52%) there is higher than the level of closing of the previous session. The future for WTI crude oil for June at the electronic trading of the New York Mercantile Exchange (NYMEX) rose in price for $0.33 (0.53%) - up to $62.35 for barrel. Let's note, oil rises in price, despite data on increase in stocks to the USA and forecasts of easing of global demand. According to data of the U.S. Department of Energy, inventory levels of crude oil in the country last week grew by 5.431 million barrels. Whereas analysts on average predicted decline by 1.4 million barrels. Let's note, oil cost is also influenced by a recent attack of UAVs on the central oil pipeline in Saudi Arabia. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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