Oil rises in value, and Brent is at $71.35 a barrel

06.12.2021,10:31


December 6, Fineko/abc.az. Prices for oil of standard grades are increasing in Monday’s trading.

By 09:25 am, at the London ICE Futures Exchange the February’s Brent crude futures rose by $1.47 (2.10%) up to $71.35 per barrel. Following the trading on 3 December, the Brent crude futures for February increased in price by $0.21 (0.30%) up to $69.88 per barrel.

By 09:25 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for January grew in price by $1.50 (2.26%) up to $67.76 per barrel. Following the trading on 3 December, the price of January’s WTI oil futures decreased by $0.24 (0.36%) to $66.24 per barrel.

According to Bloomberg, the market is supported by slight easing of concerns about the danger of the omicron strain. Data from South Africa, where this new variant of COVID-19 was detected, does not show an increase in the number of hospitalizations.

Over the past week, Brent crude oil fell by 2.4% and WTI oil by 2.8%.