The price of Brent oil per barrel on the London ICE exchange fell below $82. In this respect to witness trading platform data.
As of 16:55 Moscow time on the London ICE exchange, the cost of the Brent crude futures contract for October delivery fell 2.32% to $81.95 per barrel. Thus, Brent’s barrel cost fell below $82 for the first time since July 24. As of 17:20 Moscow time, the contract price rose to $82.61.
At the same time, WTI crude oil futures for October delivery were trading at $77.62 a barrel, down 2.32% from the previous close. As of 5:20 p.m., the price of WTI futures fell to $78.66.
Joe Evans, Analyst at PVM Petroleum Associates suggestedIt was stated that the pressure on prices stemmed from the negative data on the trade activity index from the EU and Japan.
“Oil watchers should be concerned that all manufacturing PMIs below 50 are in contract territory,” said analyst Joe Evans of brokerage firm PVM Oil Associates.
On the other hand, price support in the short term is also provided by uncertainty, as the possibility of a decrease in Saudi Arabia’s oil production by 1 million barrels per day increases.
We think Saudi Arabia will extend the full cut at least until October.” aforementioned Energy Aspects analyst Richard Bronze.
At the same time, US crude oil reserves to continue The decline was about 2.4 million barrels in a week.
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