Brent rises to $ 71.29

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Brent rises to $ 71.29
May 06
09:00 2019

On Tuesday, benchmark crudes show a slight increase.

Brent crude futures for June have risen on the London Stock Exchange to the mark of 71.29 dollars per barrel. On Monday, quotes were growing at a fast pace, rising 39 cents to $ 71.24.

June contracts for WTI benchmark have risen on Nimex to 62.42 US dollars. At the last session, the same contracts rose by 31 cents and cost $ 62.25 after bidding.

A factor that eases the pressure on oil is analysts’ confidence that the US-China negotiations will continue and lead to success.  However, the explosion in the port of Yanbu is the factor that influences the increase. This port is a key terminal for oil supplies in Saudi Arabia.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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