Oil prices continue to rise

Oil prices have again stepped up growth in today's trading.

22.Apr.16 4:28 PM
By Itina Z.
Photo Toinnov.com

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Oil prices have again stepped up growth in today's trading, ending with an increase in the third consecutive week on expectations of a gradual alignment of supply and demand in the market, reports INNOV.

The cost of the June futures for Brent crude on London's ICE Futures Exchange at 17:00 MSK increased by $ 1.10 (2.47%) - up to $ 45,64 a barrel, and futures price for WTI crude oil for June on the New York Mercantile Exchange rose this time for $ 1.08 (2.50%) - up to $ 44.26 per barrel. Since the beginning of the week quotes Brent rose by 5,9%, WTI - by 9.7% - the "Interfax".

Earlier, the International Energy Agency (IEA) has confirmed the forecast that oil production in countries outside of OPEC, will decrease by 700 thousand barrels per day in 2016, a record pace in 25 years.

Earlier, the US Department of Energy reported that oil production in the country last week fell by 0.3% to their lowest since the end of 2014, 8.95 million barrels per day. Colombia also reported a decrease in production in March to 4% compared with February, to 916 thousand barrels per day.

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