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Oil: Prices continued to rise

28/05/2021
Categories: Index/Markets

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Confident for US demand, oil climbs again this Friday. The increase stood at 0.32% compared to the previous day. Oil prices continued to rise on Friday, reassured by encouraging US data for demand from the world's largest crude consumer.

Around 09:30 GMT (11:30 CET), a barrel of Brent from the North Sea for delivery in July, of which it is the last day of trading, was worth 69.69 dollars in London, up 0.32% compared to the day before closing. In New York, the barrel of WTI for the same month garnered 0.46% to 67.16 dollars.

The prices of the two benchmark contracts are sailing close to their annual highs reached in early March, at 71.38 dollars for Brent and 67.98 dollars for WTI. PVM analyst Stephen Brennock highlights the economic data published Thursday in the United States, illustrating the recovery of the American economy.

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