The price of WTI oil futures for June increased by $0.3 per barrel, according to data from the New York Mercantile Exchange as of May 6 at 8:00 Moscow time.
The price of June West Texas Intermediate crude oil futures during Asian trading on the NYMEX exchange rose to $78.4 per barrel, 0.3% higher than the closing level of the previous day. Trading on May 6 ended with a drop in West Texas oil futures quotes of 1.1%, which corresponds to the level of March 13.
The price of Brent oil futures for delivery in July on the London ICE Exchange rose to $83.2 per barrel, 0.3% higher than at the end of the previous trading.
The rise in oil prices occurs against a backdrop of growing geopolitical tensions. Additionally, stock speculators are reacting to Saudi Arabia’s increase in oil prices for Asian countries.
Source: Rossa Primavera
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