10:34 - 18.02.2021

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February 18, Fineko/abc.az. Oil prices keep on rising in Thursday’s trading amid a sharp reduction in the oil production in the U.S. because of severe frosts.

Bloomberg informs that according to the latest estimates of oil traders and industry representatives, the volume of oil production in the U.S. fell almost by 40%.

By 9:30 am, in the trading at the London ICE Futures Exchange the price of April’s Brent crude oil futures increased by $0.88 (1.37%) up to $65.22 per barrel. At the end of trading on 17 February the Brent futures for April rose in price by $0.99 (1.56%) up to $64.34 per barrel.

By 9:30 am, at the New York Mercantile Exchange (NYMEX) the price of March’s WTI oil futures grew by $0.67 (1.10%) up to $61.81 per barrel. At the end of trading on 17 February the WTI futures for March rose by $1.09 (1.82%) up to $61.14 per barrel.