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Oil: New records for Brent

26/02/2021
Source : ORISHAS FINANCE
Categories: Sectors

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Despite rising crude inventories in the United States and the prospect of a return to the market of some of the OPEC+ black gold in the near future, oil is setting new records. Oil prices continue to rise. Around 10:45 GMT (11:45 in Paris), the barrel of North Sea Brent for delivery in April gained 0.30% in London compared to Wednesday's close, at $67.24. The US barrel of WTI for the same month appreciated at the same time by 0.24% to 63.37 dollars. The two benchmark contracts have touched more seen levels since January 8, 2020. Ipek Ozkardeskaya, an analyst at Swissquote bank, says oil prices continue to climb despite a surprise increase in US crude inventories. It should be noted that crude oil reserves in the United States increased last week by 1.3 million barrels according to a report by the US Energy Information Agency (EIA) released Wednesday. According to Avtar Sandu of Phillip Futures, this was the biggest weekly drop on record.
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