11:27 - 31.03.2021

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March 31, Fineko/abc.az. Benchmark oil prices are growing on Wednesday amid traders' optimism about the prospects for oil demand.

By 11:09 am, in the trading at the London ICE Futures Exchange May’s Brent crude futures rose by $0.65 (1.01%) up to $64.79 per barrel. At the end of trading on 30 March the price of Brent crude oil futures for May fell by $0.84 (1.29%) to $64.14 per barrel.

By 11:09 am, at the New York Mercantile Exchange (NYMEX) the price of May’s WTI oil futures rose by $0.54 (0.89%) up to $61.09 per barrel. At the end of trading on 30 March the WTI futures for May fell by $1.01 (1.64%) to $60.55 per barrel.

The market will focus on the meeting of the OPEC+ Ministerial Monitoring Committee to assess the market situation before the ministers discuss the oil production quotas in May. The ministers’ meeting will take place on Thursday.