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Oil keeps on rising in price, and Brent is at $67.33 a barrel

16.04.2021,10:54


April 16, Fineko/abc.az. Oil prices are increasing in Friday’s trading due to optimism about the prospects for energy demand.

Optimism about the demand outlook remains a key component of the oil market's growth, says an analyst at Schneider Electric.

By 9:42 am, at the London ICE Futures Exchange the June’s Brent crude futures rose by $0.39 (0.58%) up to $67.33 per barrel. Following the trading on 15 April, the price of Brent crude oil futures for June increased by $0.36 (0.54%) up to $66.94 per barrel.

By 9:42 am, at the New York Mercantile Exchange (NYMEX) the price of the May’s WTI oil futures grew by $0.41 (0.65%) up to $63.87 per barrel. At the end of trading on 15 April theWTI futures for May rose in price by $0.31 (0.49%) up to $63.46 per barrel.

The International Energy Agency raised its forecast on the global oil demand in 2021 by 230,000 b/d, citing an improved economic outlook. According to the Agency, the oil demand in 2021 will reach 96.7 million b/d (5.7 million b/d more than in 2020).