The currency price of a barrel of North Sea Brent crude rose above $75 during morning trading. The dynamics were affected, among other things, by the US Senate’s decision to approve raising the national debt ceiling. to witness London site ICE data.
We are talking about an increase in the cost of contracts for the supply of the reference Brent brand in August this year. At the same time, US West Texas Intermediate (WTI) futures for July exceeded $70 a barrel.
The decision of the US Senate to raise the debt ceiling gave confidence to the global commodity market. The delay in negotiations between representatives of the Republican and Democratic parties has worried oil traders and investors, as other dynamics of global supply and demand depend on the outcome of the negotiations. Domestic and foreign investors now have no doubt that US President Joe Biden will sign a bill raising the national debt limit. This factor is expected to prevent US officials from defaulting on debt payments and increase oil demand in the world.
June 1 at the Ministry of Finance website (MinFin) published The information that in May 2023, the export level of Russian Ural oil decreased by 5.3 dollars to 53.34 dollars per barrel compared to April. This level was 1.5 times lower than the same period last year.
Source: Gazeta
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