10:34 - 30.12.2019

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December 30, Fineko/abc.az. Prices for oil continue growing on Monday after their increase on Friday up to maximum since mid-September.

Following the trading on 27 December, February’s futures for Brent oil at the London ICE Futures Exchange rose in price by $0.24 (0.35%) up to $68.16 per barrel. The cost of February’s futures for Brent oil at the London Exchange ICE Futures grew by $0.19 (0.28%) up to $68.35 per barrel by 9:15 am.

At the end of trading on 27 December at the New York Mercantile Exchange (NYMEX) the price of WTI oil futures for February increased by $0.04 (0.06%) up to $61.72 per barrel. February’s WTI futures rose by $0.05 (0.08%) up to $61.77 per barrel by 9:15 am.

Over the past week Brent rose by 3.1% and WTI by 2.1%. The rise in prices was registered following the fourth week running.

Oil prices may end 2019 with the highest growth since 2016, thanks to positive dynamics in the U.S.-China trade negotiations and the conclusion of the OPEC+ agreement on additional production cuts.