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Brent grows to 72.83 USD

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Brent grows to 72.83 USD
May 17
09:00 2019

On Friday, benchmarks continue to grow. Perhaps, this growth may become the most significant since the last month.

Market fears caused by the trade conflict between the US and China and the fall in global demand have faded against the background of a very difficult situation in the Middle East.

Experts believe that the meeting of the OPEC members, which is going to be held this weekend, will not affect the market. The ministers will try to impartially assess the protracted dispute between the Celestial Empire and the States, as well as discuss the validity of the anti-Iran sanctions.

At eight am Moscow time, Brent contracts for July on the London Stock Exchange rose by 21 cents to $ 72.83 per barrel. On Thursday, they closed at a price of $ 72.62.

June WTI futures (traded on New York NYMEX) have risen by 25 cents – to the value of $ 63.12. During the last trade, the price grew by 85 cents, closing at $ 62.87.

At the moment, the weekly increase in crude oils is as follows: WTI has grown by 2%, while Brent – by more than 3%.

 

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

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