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Oil grows in price, and Brent is at $84.77 a barrel

19.10.2021,10:38


October 19, Fineko/abc.az. Prices for oil of standard grades are rising in Tuesday’s trading.

By 10:22 am, at the London ICE Futures Exchange the December’s Brent crude futures increased by $0.44 (0.52%) up to $84.77 per barrel. Following the trading on 18 October the Brent crude futures for December decreased in price by $0.53 (0.63%) to $84.33 per barrel.

By 10:22 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for November rose in price by $0.54 (0.65%) up to $82.98 per barrel. Following the trading on 18 October, the price of November’s WTI oil futures grew by $0.16 (0.2%) up to $82.44 per barrel.

Market experts expect that the price of WTI oil will rise above $100 per barrel in December. Since the beginning of October the price for WTI oil has risen in price by 10%, and since the beginning of 2021 - by 70%, but it has not reached the level of $100 per barrel since the collapse of prices in 2014.

Some experts expect Brent crude to reach $200 per barrel by December 2022.