The price of WTI oil futures for June increased by 0.5 dollars per barrel, according to data from the New York Mercantile Exchange as of May 15 at 8:20 Moscow time.
The price of June West Texas Intermediate crude oil futures during Asian trading on the NYMEX exchange rose to $78.5 per barrel, 0.6% higher than the closing level of the previous day. Trading on May 14 ended with a decline in West Texas oil futures quotes of 1.4%, corresponding to the level of March 13.
The price of Brent oil futures for delivery in July on the London ICE Exchange rose to $82.9 per barrel, 0.6% higher than at the end of the previous trading.
The rise in oil prices occurs against the backdrop of the US government’s resumption of replenishment of strategic reserves. Additionally, stock speculators are reacting to reports from OPEC+ discussing additional cuts in raw materials production.
Source: Rossa Primavera
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