The world oil prices on Friday morning are moderately growing on optimism about the growth of demand for raw materials. This is evidenced by trading data.
The price of August futures to the North Cauldron oil mixture of Brent grade grew by 0.39%, to $ 69.47, July futures – by 0.46%, to 69.78 dollars per barrel. July futures at WTI rose 0.51%, to 67.19 dollars per barrel.
In the oil market on Friday morning, the rise in prices, which began on the eve of the evening, is waiting for an increase in demand for raw materials as the economy is restored after world restrictive measures due to the new coronavirus.
“Restoration of the economy in the US and Europe outweighs concerns about some regions of Asia. The market believes that the rebound remains strong, and he will be able to absorb any incoming” excess “proposal,” said Bloomberg Economist Oversea-Chinese Banking Corp. Houi Lee (HOWIE LEE).