Oil rises in price, and Brent is at $45.17 a barrel


August 17, Fineko/abc.az. In Monday’s trading the benchmark oil prices are increasing amid expectations of an OPEC+ meeting this week.

S&P Global Platts informs that a meeting of the OPEC+ Ministerial Monitoring Committee (JMMC) is scheduled for 19 August.

By 9:26 am, at the London ICE Futures Exchange the Brent crude futures for October rose in price by $0.37 (0.83%) to $45.17 per barrel. At the end of trading on 14 August the price of Brent oil futures for October decreased by $0.16 (0.36%) to $44.80 per barrel.

By 9:26 am, at the New York Mercantile Exchange (NYMEX) the WTI crude futures for September rose by $0.42 (1.0%) to $42.43 per barrel. Following the trading on 14 August the WTI oil futures for September fell in price by $0.23 (0.55%) to $42.01 per barrel.

Oil prices fell on Friday, but showed growth at the end of the week: Brent rose by 0.9% and WTI by 1.9%. The market was supported by data on the decline in oil reserves in the US for the third week in a row. At the same time, the International Energy Agency (IEA) last week lowered its forecast for oil demand in 2020-2021.