11:02 - 2.06.2021

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June 2, Fineko/abc.az. Prices for oil of standard grades continued to increase in Wednesday’s trading, after growth the day before. The optimism in the market is caused by the hope for a rapid recovery in energy demand.

Following Tuesday's meeting the OPEC+ ministers made a decision not to change anything in their plans on increase of production, considering that the increase in the rate of vaccination, despite the continued lockdowns in some regions, gives a hope for rapid recovery in demand, and the prospects for Iranian oil are still unclear.

By 9:30 am, in the trading at the London ICE Futures Exchange the August’s Brent crude futures grew by $0.28 (0.41%) up to $70.53 per barrel. At the end of trading on 1 June the Brent futures for August increased in price by $0.93 (1.34%) up to $70.25 per barrel.

By 9:30 am, at the New York Mercantile Exchange (NYMEX) the price of July’s WTI oil futures rose by $0.21 (0.31%) up to $67.93 per barrel. Following the trading on 1 June the price of WTI futures for July rose by $0.89 (1.33%) up to $67.72 per barrel.