Oil prices continue to grow on Monday after a sure lift in the last week. The cost of the August Brent Oil Futures on the London Stock Exchange Ice Futures is $ 73.01 per barrel, it is $ 0.32 (0.44%) above the price of closing the previous session, Interfax transmits.
The price of WTI oil futures for July at the electronic bidding of the New York Commodity Exchange (NYMEX) is $ 71.23 per barrel, which is $ 0.32 (0.45%) above the final value of the previous session.
Over the past week, Brent has risen in price by 1.1%, WTI – by 1.9%.
The optimism of traders in relation to the prospects for oil demand in developed countries increases due to rapid vaccination and removal of quarantine restrictions. At the same time, the International Energy Agency (IEA) predicts that the global demand for oil will return to the endandamine level by the end of 2022. In 2021, as expected in the IEA, demand increased by 5.4 million b / s – to 96.4 million b / s, and in 2022 – by 3.1 million b / s.