09:57 - 1.02.2021

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February 1, Fineko/abc. az. Oil prices are growing in Monday’s trading amid the news that the OPEC+ countries are strictly complying with the terms of the agreement on the oil production cuts.

Bloomberg reports that the implementation of the agreement in January is estimated by the OPEC+ states in 99%.

By 9:20 am, in the trading at the London ICE Futures Exchange the price of April’s Brent crude oil futures increased by $0.37 (0.67%) up to $55.41 per barrel. At the end of trading on 29 January the Brent futures for April fell in price by $0.13 (0.24%) to $55.04 per barrel.

By 9:20 am, at the New York Mercantile Exchange (NYMEX) the March’s WTI oil futures grew in price by $0.27 (0.52%) up to $52.47 per barrel. At the end of trading on 29 January the WTI futures for March fell by $0.14 (0.27%) to $52.20 per barrel.

Over the past week Brent crude oil increased by 0.9% and WTI fell by 0.1%. In January the price of Brent grew by 7.9% and WTI by 7.6%.