°
Ashburn

Prices for Brent crude increased to 42.12 per barrel

Oil prices on Thursday morning to grow for the second consecutive trading session on the wave of optimism caused by the reduction of inventories in the United States, according to the auction.

As of 7: 40 am GMT, the September futures price for North sea petroleum mix of mark Brent has grown on 0,21% - to 42.12 per barrel. August futures on WTI rose in price on 0,13% - to 39,87 USD per barrel.

On Wednesday, the US Department of energy reported that commercial stocks of raw materials in the country (excluding strategic reserves) for the week ended June 26 decreased by 7.2 million barrels, or 1.3%, to 533,5 million barrels.

However, the spread of the coronavirus continues to exert pressure on prices. Investors fear that a new outbreak and related quarantine measures will slow the recovery in fuel demand. Reuters reported that in recent days in the United States recorded the highest number of new cases COVID-19 - more than 48 thousand.

Analysts, quoted by the Agency, noted that all of the market attention will be focused on activity in the U.S. ahead of the holiday weekend on the occasion of independence Day on 4 July and for the restoration of the production of us oil companies.