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Oil rises in cost, and Brent is at $68.30 a barrel

11.03.2021,11:13


March 11, Fineko/abc.az. Benchmark oil prices are growing in Thursday’s trading, despite the data about last week’s growth of oil reserves in the U.S.

According to the weekly report of the US Department of Energy, country’s commercial oil reserves grew by 13.8 million barrels up to 498.4 million barrels last week.

Experts expected an increase in oil reserves by 2.5 million barrels.

By 11:00 am, in trading at the London ICE Futures Exchange May’s Brent crude futures rose by $0.40 (0.59%) up to $68.30 per barrel. At the end of trading on 10 March the Brent futures for May increased in price by $0.38 (0.56%) up to $67.90 per barrel.

By 11:00 am, at the New York Mercantile Exchange (NYMEX) the price of April’s WTI oil futures rose by $0.43 (0.67%) up to $64.87 per barrel. At the end of trading on 10 March the WTI futures for April grew by $0.43 (0.67%) up to $64.44 per barrel.