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Oil grows in cost, and Brent is at $73.05 a barrel

14.06.2021,11:20


June 14, Fineko/abc.az. Prices for oil of standard grades are rising in Monday’s trading, after growth at the end of last week.

The optimism in the oil market is caused by the prospect of an increase in oil demand due to vaccination and the lifting of quarantine restrictions.

By 9:25 am, in the trading at the London ICE Futures Exchange the August’s Brent crude futures grew by $0.36 (0.51%) up to $73.05 per barrel. At the end of trading on 11 June the price of Brent futures for August rose by $0.17 (0.23%) up to $72.69 per barrel.

By 9:25 am, at the New York Mercantile Exchange (NYMEX) the price of the July’s WTI oil futures rose by $0.34 (0.48%) up to $71.25 per barrel. At the end of the trading on 11 June the price of WTI futures for July grew by $0.62 (0.88%) up to $70.91 per barrel.

Over the past week Brent increased by 1.1% and WTI by 1.9%.