The price of futures for Brent crude oil for April delivery on the London ICE exchange showed an increase and reached a peak of $ 61.02 per barrel. This is evidenced by the data of the trading platform as of 5:14 Moscow time.
It is noted that the last time the price of Brent oil exceeded $ 61 per barrel on January 7, 2020. As of 5:22 Moscow time, the price of WTI crude oil for March delivery is also growing and is $ 58.34 per barrel.
On Monday, February 8, the price of Brent crude exceeded $ 60 per barrel for the first time since January 2020, according to trading data on the London ICE exchange.
Two days ago, the price of the April futures for this North Sea mixture was $ 59.56, and by 11:30 Moscow time on Monday it reached $ 60.21 per barrel.
WTI crude oil during trading also showed an increase of 1.13% in trading on the NYMEX. The price for a barrel of this mixture with the sale in March was $ 57.34.
On January 5, Russian Deputy Prime Minister Alexander Novak said that at that time oil prices were higher than previously predicted, thanks to incentive measures in a number of countries and vaccination against coronavirus. In addition, on the same day, the OPEC + countries agreed on the volume of oil production in February and March.
The next day, there was a tendency for the price of Brent oil to rise. So, on January 6, the price of this oil rose above $ 54 per barrel for the first time since February 26 last year, and two days later, a barrel of Brent was trading at $ 55 for the first time since February 25, 2020.
The rise in the price of Brent oil was also recorded on January 13. Then the cost with deliveries in March 2021 increased by 0.42% compared to the closing level of previous trading and reached $ 57.07 per barrel. On February 2, during trading, the price of Brent oil exceeded $ 58 per barrel for the first time since January 22, 2020.
On February 4, experts interviewed by Izvestia expressed the opinion that the discipline of the participants in the OPEC + deal and the expectation of the end of the recession in the global economy against the background of a decrease in morbidity will contribute to the growth of oil prices. In their opinion, if the current market dynamics are maintained in March, the cartel may increase quotas for oil production.