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Oil keeps on rising in cost, and Brent is at $75.34 a barrel

29.07.2021,11:37


July 29, Fineko/abc.az. Prices for oil of standard grades continue increasing in Thursday’s trading after the rise the day before amid the official data about decline in energy stocks in the U.S.

The U.S. Department of Energy informs that country’s oil reserves decreased last week by 4.1 million barrels to the lowest level since January 2020, stocks of gasoline by 2.3 million barrels, and stocks of distillates by 3.1 million barrels.

By 11:25 am, at the London ICE Futures Exchange the September’s Brent crude futures grew by $0.60 (0.80%) up to $75.34 per barrel. Following the trading on 28 July the Brent oil futures for September increased in price by $0.26 (0.35%) up to $74.74 per barrel.

By 11:25 am, at the New York Mercantile Exchange (NYMEX) the price of the September’s WTI oil futures grew by $0.67 (0.93%) up to $73.06 per barrel. Following the trading on 28 July the price of WTI futures for September increased by $0.74 (1.03%) up to $72.39 per barrel.