August 12, 2020

Brent recovers $ 35 a barrel, highs since mid-March



The price of a barrel of Brent oil for delivery in July started slightly upward on Tuesday, with a rise of 0.92% in the London futures market, reaching above 35 dollars, a level where it did not closed a session since mid-March.

Brent, the benchmark crude in Europe, is rising more moderately today, as it rose 8.69% in the previous session, thanks to the optimism of the market regarding the recovery of demand in the face of the reactivation of the economy in countries of all the world.

Likewise, in the US, Texas intermediate oil (WTI) closed yesterday with an increase of 8.12%, to $ 31.82 a barrel, also encouraged by lower production of crude oil in the world and in the country, where the main companies have reduced their pumping since the fall in demand for the coronavirus to correct the oversupply.

Today, on the day that the WTI futures expire for delivery in June, the price of crude oil, but already for delivery in July, rises 0.44%, to $ 31.79.

.



Source link