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Cost of oil rises slightly, and Brent is at $39.01 a barrel

03.11.2020,11:33

November 3, Fineko/abc.az. Oil prices are increasing in Tuesday’s trading after a jump the day before amid the signals that the OPEC+ countries may cancel the production cut lifting, scheduled for early 2021.

By 9:35 am, at the London ICE Futures Exchange the Brent crude futures for January rose in price by $0.04 (0.1%) up to $39.01 per barrel. At the end of trading on 2 November the January Brent futures fell by $1.03 (2.72%) to $38.97 per barrel.

By 9:35 am, at the New York Mercantile Exchange (NYMEX) the WTI crude futures for December grew by $0.11 (0.3%) up to $36.92 per barrel. At the end of trading on 2 November the December WTI futures increased by $1.02 (2.85%) up to $36.81.

According to Bloomberg, the current week promises to be stormy, given that the U.S. presidential election will be held on Tuesday.