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Oil prices keep on growing, and Brent is at $74.09 a barrel

14.09.2021,11:27


September 14, Fineko/abc.az. Prices for oil of standard grades continue their growth in Tuesday's trading due to OPEC's forecast about increase of demand in 2022.

OPEC raised its estimate of oil demand growth for 2022 by 900,000 b/d up to 4.2 million b/d. The forecast of oil demand growth for 2021 was also kept and is expected to be 96.68 million b/d by the end of the year.

By 11:10 am, at the London ICE Futures Exchange the November’s Brent crude futures increased by $0.58 (0.79%) up to $74.09 per barrel. Following the trading on 13 September, the price of Brent crude oil futures for November grew by $0.59 (0.81%) up to $73.51 per barrel.

By 11:10 am, at the New York Mercantile Exchange (NYMEX) the price of October’s WTI oil futures rose by $0.60 (0.85%) up to $71.05 per barrel. Following the trading on 13 September, the price for October’s WTI oil futures grew by $0.73 (1.05%) up to $70.45 per barrel.