Date: 3 months ago   Category: Financial

Price of oil reached 72 dollars


The cost of Brent crude oil was raised to maxima almost for half a year. The prices grow on news about decrease in stocks in the USA. The world prices for oil of reference brands continue to grow at the auction on Wednesday, April 17 As writes Interfax, oil rises in price on signals of decrease in reserves of oil in the USA. So, the cost of June futures for Brent oil at the London's ICE Futures Exchange is $71.98 for barrel that for $0.26 (0.36%) there is higher than the level of closing of the previous session. During trading the price rose up to $72.08 for barrel, a maximum since November of last year. The future for WTI crude oil for May at the electronic trading of the New York Mercantile Exchange (NYMEX) rose in price for $0.43 (0.67%) - up to $64.48 for barrel. Following the results of the previous auction the contract went up in price for $0.65 (1.03%) - up to $64.05 for barrel. According to data of the American Petroleum Institute (API), oil reserves in the USA last week decreased by 3.1 million barrels. The Ministry of Energy of the USA will publish the weekly report on reserves of oil, gasoline and distillates on Wednesday at 17:30 across Moscow. If decrease in reserves of oil is confirmed in official data, it will be recorded for the first time in four weeks. The statistical data from China which indicated more considerable became a positive factor for the market than it was expected, increase in volume of GDP in the first quarter. The volume of GDP increased by 6.4% in comparison with the first quarter 2018. Growth rates remained at the level of the fourth quarter, however surpassed the consensus forecast of the market at the level of 6.3%. Earlier in Mienergo of the USA reported that in 2018 increased export of oil almost twice and brought it to 2 million barrels a day. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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