The price of Brent oil exceeded $ 79 per barrel for the first time since 2018

The cost of a barrel of Brent North Sea mixture exceeded $ 79 for the first time since October 23, 2018, according to trading data.

The price of futures contracts for delivery in November increased by 1.2 percent, to $ 79.03, in December – by 1.14 percent, to $ 78.11.

The WTI brand rose to $ 75 per barrel; then, the price went slightly below this mark.

The market expects an increase in demand for raw materials. In addition, world oil reserves are declining; in the U.S., the indicator is close to a three-year low.

OPEC+ countries, in turn, are easing production restrictions at a very slow pace, which puts pressure on supply, Bloomberg notes.

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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
Ivan Maltsev

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