Analysts cited several reasons why the oil prices are growing rapidly
World oil prices are growing rapidly and remained at levels above USD 79 per barrel for Brent and close to the psychological milestone of $ 80, that hasn’t happened since June 2018. This according to the auction on September 11-12.
Thus, the November futures price for North sea Brent crude on London’s ICE Futures exchange, September 12 at 10:40 Kyiv time rose to 79.22 per barrel. Earlier today, the price of a barrel of this brand reached 79.64 USD.
Cost of oil WTI with delivery in October, in electronic trading on the new York Mercantile exchange (NYMEX) increased to 69.83 USD per barrel.