"Black gold" is cheaper due to the growth of oil production in the US
On the eve of the contracts rose in price to $ 77.59 per barrel. Since the beginning of the week, Brent has risen in price by 1.3%, while WTI has fallen in price by 1.5%.
The cost of oil of reference marks is lowered in the course of trading on Friday, June 1, on data on the growth of oil production in the US, while WTI is declining as a result of the week.
The price of August futures for Brent on the London stock exchange ICE Futures to 8.17 in Kiev decreased by $ 0.16 (0.21%) - to $ 77.40 per barrel. On the eve of the contracts, prices rose by $ 0.09 (0.12%) to $ 77.59 per barrel.
The cost of the futures contract for WTI for July in electronic trading on the New York Mercantile Exchange (NYMEX) fell by $ 0.17 (0.25%) to $ 66.87 per barrel by that time. Following the session on Thursday, contracts fell by $ 1.17 (1.72%) - to $ 67.04 per barrel.
We note that since the beginning of the week Brent has risen in price by 1.3%, and WTI has fallen in price by 1.5%.
Recall, on May 25, oil began to fall in price due to unexpected growth in US inventories. Market participants also feared that OPEC could increase production in June because of the risks associated with Venezuela and Iran.
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