Experts say that there’s a logical explanation.
The price of North sea Brent crude oil this afternoon, 9 March 2018, is below $ 65 per barrel.
So, as of 16:46 Moscow time the price of Brent crude oil was at $ 64.67 a barrel. This is 1.21% above the closing level of the previous trading session.
Note, oil prices fall on Wednesday for the first time in four sessions on news about growth of stocks of raw materials in the United States, as well as on fears of a trade war after the resignation of economic adviser to the White house Gary con because of disagreements with U.S. President Donald trump. Before the data were published by the American petroleum Institute (API), which showed the growth of oil reserves in the United States at the end of last week by 5.7 million barrels.
This increases the concerns of investors associated with the fact that the rise in the level of oil production in the United States negates the efforts of the members of the agreement of OPEC, which is trying to achieve a balance in the market. Recall, the price of North sea Brent oil in the morning, 7 March 2018, is above $ 65 per barrel.
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