11:44 - 3.02.2021

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February 3, Fineko/abc.az. Oil prices continue growth in Wednesday’s trading after a jump the day before.

According to American Petroleum Institute’s report, U.S. crude inventories fell by 4.26 million barrels last week after falling by 5.27 million a week earlier. The decline was recorded for the second week in a row.

By 9:25 am, in the trading at the London ICE Futures Exchange the price of April’s Brent crude oil futures increased by $0.20 (0.35%) up to $57.66 per barrel. At the end of trading on 2 February the Brent futures for April jumped in price by $1.11 (1.97%) up to $57.46 per barrel.

By 9:35 am, at the New York Mercantile Exchange (NYMEX) the March’s WTI oil futures rose in price by $0.17 (0.31%) up to $54.93 per barrel. At the end of trading on 2 February the WTI futures for March grew by $1.21 (2.26%) up to $54.76 per barrel.

Today, the ministers of the OPEC+ Monitoring Committee (JMMC) will hold a meeting to discuss the state of the market and the execution of the transaction.