Oil is rising: Brent is trading around $ 77.3 per barrel

Oil prices of benchmark brands are rising during the Asian trading on Monday, their growth is supported by expectations that Iran will reduce oil supplies, while global demand for it will continue to grow steadily, INTERFAX reports.

The price of November futures for Brent on the London stock exchange ICE Futures in the morning of September 10 increased by 44 cents (0.57%) - to $77.27 per barrel.

The October contract for WTI on the electronic trading of the new York commodity exchange (NYMEX) rose by 41 cents (0.61%) to $68.16 per barrel.

Last Friday, Brent futures climbed $0.33 (0.4%) to $76.83 per barrel and WTI dropped 2 cents (0.03%) to $67.75 per barrel.

At the end of last week oil fell for the first time in three weeks, the price of WTI declined by 2.9%, Brent - 1%.

WTI crude oil dropping eight of the last 10 weeks, Brent - seven. However, there was no significant decline in prices compared to the peak levels of the current year, although the beginning of autumn usually does not contribute to the oil rally.

As reported on Friday, the oil service company Baker Hughes, the number of operating oil drilling rigs in the US last week decreased by 2 units - to 860.

This week three important reviews of the oil market will be published: on Tuesday-the monthly forecast of the energy information Administration (EIA) of the US Department of energy, on Wednesday - the report of the Organization of petroleum exporting countries (OPEC), on Thursday-the International energy Agency (IEA).

Related news

2014