10:43 - 17.02.2021

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February 17, Fineko/abc.az. Cost of oil of standard grades is rising in Wednesday’s trading.

S&P Global Platts says that the oil market on the one hand is supported by forecasts on improvement of the oil demand against the background of the pandemic recession, expectations of new measures to support the US economy and a reduction in production by the OPEC+ countries, and on the other hand - pressure due to the strengthening of the US dollar.

By 10:30 am, in the trading at the London ICE Futures Exchange the price of April’s Brent crude oil futures increased by $0.22 (0.35%) up to $63.57 per barrel. At the end of trading on 16 February the Brent futures for April rose in price by $0.05 (0.08%) up to $63.35 per barrel.

By 10:30 am, at the New York Mercantile Exchange (NYMEX) the price of March’s WTI oil futures grew by $0.14 (0.23%) up to $60.19 per barrel. At the end of trading on 16 February the WTI futures for March increased by $0.58 (0.98%) up to $60.05 per barrel.