Brent Rises Above 48 Dollars After Decline the Day Before

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Brent Rises Above 48 Dollars After Decline the Day Before

Photo: www.rushor.su

Today world oil prices have started to rise again after a sharp decline the day before connected with the flight of investors into defensive assets: government bonds, gold and the yen, the Interfax news agency reported.

Norway’s oil companies broke off pay talks on Wednesday night, the Industry Energy union announced. A future strategy is discussing now, both sides are open to negotiations but the possibility of a strike is not excluded.

August West Texas Intermediate crude rose 0.7%, to settle at $46.92 a barrel on the New York Mercantile Exchange to 10:30 a.m. Moscow time. September Brent on the ICE Futures exchange in London scored 0.6%, to end at $48.25 a barrel to the same time.

Earlier, during the morning trading, both brands crude fell 0.4-0.5%.

Market participants are waiting to get the United States crude oil inventories results. This time the results will be released on a day later than usual, on Thursday, in connection with the holiday on Monday on the occasion of Independence Day. According analysts’ estimates, most probably, crude oil inventories fell 2.5 million barrels last week.

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