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Oil prices rise and end up rising for sixth week in a row

05.06.2020,11:18


June 5, Fineko/abc.az. Oil rises in price on Friday and ends the trading with rising for the sixth week in a row on the news about the readiness of the key oil producer countries to extend production cuts.

By 9:20 am, at the London ICE Futures Exchange the Brent crude futures for August rose in price by $0.21 (0.53%) up to $40.20 a barrel.

Following the trading on 4 June the price of Brent oil contracts for August grew by $0.20 (0.5%) up to $39.99 per barrel.

By 9:20 am, at the New York Mercantile Exchange (NYMEX) the WTI futures for July rose by $0.02 (0.05%) up to $37.43 a barrel.

At the end of trading on 4 June at the NYMEX the price of July’s WTI futures rose by $0.12 (0.32%) up to $37.41 a barrel.

Since the beginning of this week the prices of both Brent and WTI have grown by 6%.