the Price of Brent crude oil rose above 33 dollars per barrel for the first time since April 13. This is evidenced by trading on the London ICE exchange.
the Cost of the futures on Brent crude oil with delivery in July 2020 rose 1.6 percent, to $ 33.02 USD per barrel. To this level the price was raised at 01:01 Moscow time. The last time oil traded above 33 dollars per barrel April 13, 2020.
the Price of oil WTI with delivery in July also rose above $ 30 per barrel for the first time since March 17. 01.01 Moscow time, July WTI futures price rose to 1.80 percent to 30.05 dollar.
on 15 may, oil prices started to grow and broke the mark of 32 dollars a barrel during trading on the London stock exchange ICE. July futures for benchmark Brent has risen to 32.2 per barrel, rising by 3.3 percent.
the price of oil returned to growth after may 1, the beginning of the act restored the transaction within OPEC+ reduction of production. In addition, positively on the prices reflected the decision of several countries, including Saudi Arabia, voluntarily further reduce production.
the International energy Agency said earlier that although the effect of taken measures is already significant, they are still not enough to completely stabilize the situation in the market.
With the end of the twentieth century the world began to develop dynamically the market of so-called “paper oil”, i.e. futures contracts. By the middle of 1980-ies he often exceeded by the cost of the physical supplies, and today on the stock exchange the main volume is futures contracts.
