Cost of oil keeps on rising, and Brent is at $58.71 a barrel

11:44 - 4.02.2021


February 4, Fineko/abc.az. Oil prices continued growing in Thursday’s trading, having risen the day before to the highest this year.

According to Bloomberg, the market was supported by the statement of the OPEC+ Ministerial Monitoring Committee (JMMC), which stressed the importance to accelerate immediately the balancing of the oil market.

By 9:35 am, in the trading at the London ICE Futures Exchange the price of April’s Brent crude oil futures grew by $0.25 (0.43%) up to $58.71 per barrel. At the end of trading on 3 February the Brent futures for April increased in price by $1 (1.74%) up to $58.46 a barrel.

By 9:35 am, at the New York Mercantile Exchange (NYMEX) the price of March’s WTI oil futures grew by $0.31 (0.56%) up to $56 per barrel. At the end of trading on 3 February theWTI futures for March rose by $0.93 (1.7%) up to $55.69 per barrel.

 

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