Oil prices continue to recover after a strong fall in a week

World oil prices continue to grow correctively on Friday afternoon after the strongest weekly drop in the current year, associated with the deterioration of the epidemiological situation, according to trading data.

The price of October futures for Brent crude oil rose by 0.48% to $ 71.63 per barrel. September WTI futures rose by 0.43% to $ 69.39 per barrel.

Oil prices continued to recover on Friday afternoon after the strongest drop in a week this year. Since the beginning of the week, prices for “black gold” have fallen by 6% against the background of the worsening epidemiological situation. Thus, the increase in the number of cases of the delta strain in China led to the introduction of additional restrictions on movement, which reduced the demand for fuel.

On Friday, investors ‘ attention is also focused on data on the number of operating oil drilling rigs in the United States, which will be published by the oilfield services company Baker Hughes. Over the previous week, the indicator decreased by two, to 385 units.

The main event of the week for traders remains the statistical data on the labor market in the United States, which will be published later on Friday. Analysts believe that in July, the indicator fell to 5.7% from 5.9% in June. Investors believe that these statistics are an important indicator of the economic recovery process.

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Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
Function: Chief-Editor
E-mail: Great7news@gmail.com
Ivan Maltsev

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