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Oil prices rise in anticipation of OPEC+ meeting

07.04.2020,11:38


April 7, Fineko/abc.az. Oil prices are rising on Tuesday in anticipation of the OPEC+ meeting, where oil-producing countries will have to make a decision on production cuts.

Dow Jones writes that oil prices are rising on signals that the spread of COVID-19 coronavirus infection in the U.S. and Europe may be starting to slow down.

Following the trading on 6 April at the London ICE Futures Exchange, the price for June’s Brent crude futures fell by $1.06 (3.1%) to $33.05 per barrel.

By 11:25 am, Brent futures for June grew by $0.95 (2.87%) up to $34 per barrel.

At the end of trading on 6 April at the New York Mercantile Exchange (NYMEX), May’s WTI oil futures fell by $2.26 (8%) to $26.08 per barrel.

By 11:25 am, WTI futures for May increased by $0.99 (3.8%) up to $27.07 per barrel.