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    Brent price exceeds 52 USD a barrel

    Oil has risen against the backdrop of cuts in US crude oil inventories

    Baku. 8 June. REPORT.AZ/ Price of Brent crude oil now exceeds 52 USD/barrel.

    Report informs, the oil price increased against the background of weekly data on the reduction of crude oil reserves by 3560 thousand barrels promulgated by American Petroleum Institute (API). Notably another reasons is growth in demand for gasoline due to the increase in the number of people who went on leave in connection with the summer season indicated growth in gasoline demand due to the increase in the number of people who went on leave in connection with the summer season, as well as news about the next attack of militants on oil infrastructure in Nigeria.

    Brent was last sold more expensive than 52 USD per barrel on October 12, 2015. Then oil prices began to fall against the backdrop of the global financial crisis and on January 20, 2016 reached a minimum in recent years (27.10 USD per barrel).Currently, oil is sold at 92% higher than this minimum.

    The historical maximum was recorded in July 2008, when sold at 147,50 USD per barrel. 

    Analytical Group of Report News Agency predicts rise in oil prices to 55 USD per barrel.

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