Oil has recovered the maximum since January 2020

News

Oil has recovered the maximum since January 2020

04.06.2021 News

World oil prices at the auction on Thursday, June 3, updated for a maximum of four months.

Thus, August futures on Brent reached $ 71.84 per barrel, which is the highest since January 2020.

July futures on the WTI are trading above $ 69 per barrel – a maximum of October 22, 2018.

Quotes are rising on data on declining oil reserves in the United States. According to API estimates, stocks in the country for the week decreased by 5.36 million barrels. Gasoline reserves increased by 2.51 million barrels, distillates – by 1.59 million barrels.

The growth of quotations is also influenced by the resumption of economic activity in Europe, writes S&P Global Platts. The largest European countries, including Britain, Germany, France and Italy, are expected to continue easing quarantine restrictions during June.

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