16:25 - 14.03.2024

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March 14, Fineko/abc.az. Prices for oil of benchmark grades are rising in Thursday’s trading after a significant rise the day before.

The price of May’s Brent crude futures at the London ICE Futures Exchange increased by $0.45 (0.54%) to $84.48 per barrel by 16:05. Following the trading on March 13, Brent crude futures for May rose by $2.11 (2.58%) to $84.03 per barrel.

The price of WTI crude oil futures for April on the electronic trading of the New York Mercantile Exchange (NYMEX) grew by $0.59 (0.74%) to $80.31 per barrel by 16:05. Following the trading on March 13, the price of WTI oil futures for April increased by $2.16 (2.78%) to $79.72 per barrel.

The International Energy Agency has raised the forecast for oil demand in 2024 by 200,000 b/d up to 103.2 million b/d. In particular, the estimate of oil consumption in the 1st quarter of 2024 was increased by 400,000 b/d up to 102 million b/d, the forecast for the 2nd and 3rd quarters was increased by 200,000 b/d, up to 103 million and 104 million b/d, respectively.