On Friday Brent crude oil has exceeded $52 per barrel
On Friday oil prices gradually begin to rise in New York, after being dropped on Thursday on the news about the increase in fuel inventories in the United States market. In London oil is stable.
Futures contracts for Brent crude oil for December have grown by 6 %, amounting to $ 52.09 per barrel on the London Stock Exchange.
Contracts for the US WTI black gold have jumped by 0.6% or 29 cents, amounting to $ 50.73 per barrel during the trading session on the New York Mercantile Exchange. The growth of prices in the USA has been supported by the news about the reduction of inventories in the commodity warehouses to its lowest level since December.
As before, prices are being supported by the probability of an agreement on the oil production reduction among the members of the OPEC. Nevertheless, a lot of market participants doubt that the deal will be effective.
According to the Ministry of Energy, reserve stocks of raw materials in the United States have increased by 4.85 million barrels and totaled to 473.958 million barrels over the past week. Analysts, who were interviewed by the publication The Wall Street Journal, made the average growth forecast of stocks by 900 thousand barrels.
The oil production in the USA slightly fell last week – up to 8.45 million barrels per day (b / d). A week ago it was 8.467 million b / d.