09:34 - 19.05.2022

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May 19, Fineko/abc.az. Prices for oil of benchmark grades are increasing in Thursday’s trading after falling the day before.

Fears of possible recession in the U.S. as a result of the rapid tightening of the Fed's monetary policy led to a drop in the oil market.

At the London ICE Futures Exchange, July’s Brent crude futures rose by $1.27 (1.16%) up to $110.38 per barrel by 09:21 am. Following the trading on 18 May, the price of July’s Brent crude futures decreased by $2.82 (2.52%) to $109.11 per barrel.

At the New York Mercantile Exchange (NYMEX) the June’s WTI oil futures increased in price by $0.42 (0.38%) to $110.01 per barrel by 09:19 am. Following the trading on 18 May, the price of WTI oil futures for June fell by $2.81 (2.50%) to $109.59 per barrel.